Confluent, Inc. (NASDAQ:CFLT) Director Sells $31,335,085.10 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 1,084,259 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $28.90, for a total transaction of $31,335,085.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Matthew Craig Miller also recently made the following trade(s):

• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The shares were sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Stock Down 5.1 %

Confluent stock opened at $27.07 on Monday. The stock has a market cap of $8.88 billion, a P/E ratio of -24.39 and a beta of 0.82. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07. The company’s 50-day moving average price is $22.39 and its two-hundred day moving average price is $24.56.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The company had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. As a group, analysts expect that Confluent, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. DA Davidson reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Confluent in a research report on Wednesday, September 18th. Barclays increased their price objective on shares of Confluent from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI reduced their price objective on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Wells Fargo & Company reduced their price objective on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.88.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in shares of Confluent during the second quarter worth approximately $68,000. UniSuper Management Pty Ltd increased its holdings 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 worth $82,000 after purchasing an additional 1,500 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 859 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Confluent during the third quarter worth approximately $68,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares during the period. 78.09% of the stock is owned by institutional investors.

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.