Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 63,729 Shares

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $27.40, for a total transaction of $1,746,174.60. Following the sale, the insider now directly owns 687,483 shares of the company’s stock, valued at approximately $18,837,034.20. This trade represents a 8.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Erica Schultz also recently made the following trade(s):

• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total value of $267,253.41.

Confluent Trading Up 3.0 %

NASDAQ CFLT opened at $31.52 on Friday. The firm has a market capitalization of $10.34 billion, a PE ratio of -28.40 and a beta of 0.82. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The company has a 50-day simple moving average of $23.35 and a 200-day simple moving average of $24.64. 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 (NASDAQ:CFLT) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, equities analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current year.

Analysts Set New Price Targets

CFLT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $30.00 price objective (down previously from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Royal Bank of Canada upped their target price on shares of Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Mizuho lifted their price target 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. Finally, Sanford C. Bernstein cut their price objective on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Institutional Investors Weigh In On Confluent

A number of hedge funds have recently added to or reduced their stakes in CFLT. Diversified Trust Co grew its position in shares of Confluent by 110.3% during the third quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after acquiring an additional 31,729 shares during the last quarter. Sycomore Asset Management boosted its stake in Confluent by 308.3% during the 2nd quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock valued at $9,176,000 after purchasing an additional 251,507 shares during the period. Pathway Capital Management LP bought a new position in Confluent in the 3rd quarter worth about $918,000. Sei Investments Co. raised its holdings in shares of Confluent by 29.1% during the second quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock valued at $9,022,000 after buying an additional 68,880 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Confluent by 109.9% during the third quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after buying an additional 49,699 shares during the period. 78.09% of the stock is currently 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.