Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 541,850 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 541,850 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $30.32, for a total transaction of $16,428,892.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, November 25th, Matthew Craig Miller sold 157,890 shares of Confluent stock. The shares were sold at an average price of $32.88, for a total value of $5,191,423.20.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The shares were sold at an average price of $28.90, for a total value of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The stock was sold at an average price of $27.51, for a total value of $29,359,827.42.

Confluent Stock Up 2.3 %

Shares of NASDAQ:CFLT opened at $32.23 on Tuesday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $10.57 billion, a P/E ratio of -29.04 and a beta of 0.82. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. The stock’s fifty day simple moving average is $23.58 and its 200-day simple moving average is $24.58.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Confluent in the second quarter valued at $68,000. Point72 Hong Kong Ltd purchased a new stake in Confluent in the 3rd quarter valued at about $68,000. UniSuper Management Pty Ltd increased its stake in shares of Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Confluent by 40.3% during the 1st 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 period. Finally, Lazard Asset Management LLC grew its holdings in Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on CFLT shares. Mizuho raised their target price on shares of Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company cut their target price on Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Baird R W upgraded Confluent to a “hold” rating in a research note on Wednesday, September 4th. Finally, Citigroup increased their price objective on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

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.