Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 50,000 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 50,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $25.92, for a total transaction of $1,296,000.00. Following the completion of the sale, the director now owns 280,200 shares of the company’s stock, valued at approximately $7,262,784. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Confluent Stock Up 2.6 %

Shares of NASDAQ CFLT opened at $27.13 on Thursday. The firm’s 50-day moving average is $21.25 and its two-hundred day moving average is $24.61. The company has a market capitalization of $8.76 billion, a PE ratio of -24.44 and a beta of 0.82. Confluent, Inc. has a 12-month low of $16.69 and a 12-month high of $35.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. Equities analysts anticipate that Confluent, Inc. will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Confluent during the 2nd quarter worth about $68,000. UniSuper Management Pty Ltd lifted its stake in shares of Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after buying an additional 1,500 shares during the period. Advisors Asset Management Inc. boosted its position in Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares during the last quarter. Lazard Asset Management LLC grew its stake in Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after acquiring an additional 1,167 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Confluent in the 2nd quarter valued at $175,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CFLT. Stifel Nicolaus dropped their price objective on shares of Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Baird R W raised Confluent to a “hold” rating in a research report on Wednesday, September 4th. Evercore ISI lowered their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. upped their price target on Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Canaccord Genuity Group lowered their price objective on shares of Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.74.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.