Confluent, Inc. (NASDAQ:CFLT) Director Sells $5,191,423.20 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 157,890 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $32.88, for a total value of $5,191,423.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The shares were sold at an average price of $30.32, for a total transaction of $16,428,892.00.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The stock was sold at an average price of $28.90, for a total transaction 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 transaction of $29,359,827.42.

Confluent Trading Down 2.3 %

NASDAQ:CFLT opened at $30.57 on Thursday. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of -27.54 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The business has a fifty day moving average of $23.79 and a 200-day moving average of $24.59.

Confluent (NASDAQ:CFLT) last announced 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 firm had revenue of $250.20 million during 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%. Equities analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on CFLT shares. Wolfe Research raised Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Confluent in a report on Tuesday, October 29th. Truist Financial reiterated a “buy” rating and set a $30.00 target price (down from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays increased their price objective on shares of Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Hedge Funds Weigh In On Confluent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of Confluent by 521.0% in the 3rd quarter. Tidal Investments LLC now owns 50,545 shares of the company’s stock worth $1,030,000 after purchasing an additional 42,406 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Confluent by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company’s stock worth $384,000 after purchasing an additional 3,298 shares during the period. Westside Investment Management Inc. raised its position in shares of Confluent by 11,796.1% during the third quarter. Westside Investment Management Inc. now owns 12,253 shares of the company’s stock worth $250,000 after purchasing an additional 12,150 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Confluent by 2.5% during the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after purchasing an additional 107,510 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Confluent in the 3rd quarter valued at $634,000. 78.09% of the stock is owned by institutional investors.

About Confluent

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.