Confluent, Inc. (NASDAQ:CFLT) Director Sells $11,364,547.74 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 347,646 shares of Confluent stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $32.69, for a total transaction of $11,364,547.74. Following the completion of the transaction, the director now owns 22,688 shares in the company, valued at approximately $741,670.72. This trade represents a 93.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, December 6th, Matthew Craig Miller sold 53,512 shares of Confluent stock. The stock was sold at an average price of $33.64, for a total value of $1,800,143.68.
• 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 Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The stock was sold at an average price of $30.32, for a total value 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 value of $29,359,827.42.

Confluent Stock Up 0.4 %

CFLT stock opened at $31.32 on Friday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07. 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 cap of $10.27 billion, a PE ratio of -28.22 and a beta of 0.88. The business’s 50-day simple moving average is $26.66 and its 200 day simple moving average is $24.72.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. On average, research analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current year.

Hedge Funds Weigh In On Confluent

Several institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Confluent during the 2nd quarter worth approximately $68,000. Point72 Hong Kong Ltd bought a new stake in shares of Confluent during the third quarter worth $68,000. Acadian Asset Management LLC acquired a new stake in shares of Confluent in the second quarter valued at $175,000. Plato Investment Management Ltd raised its holdings in shares of Confluent by 2,184.1% in the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after buying an additional 6,312 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Confluent during the 3rd quarter worth about $214,000. 78.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CFLT. TD Cowen lifted their target price on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. Truist Financial increased their price objective on Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.88.

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.