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

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $34.75, for a total value of $2,214,582.75. Following the completion of the transaction, the insider now directly owns 678,016 shares in the company, valued at $23,561,056. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The shares were sold at an average price of $35.82, for a total value of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.68, for a total value of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.21, for a total value of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.60, for a total transaction of $2,013,836.40.
• 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 transaction of $267,253.41.

Confluent Trading Up 0.3 %

NASDAQ:CFLT traded up $0.09 during mid-day trading on Tuesday, reaching $34.94. The company’s stock had a trading volume of 7,129,154 shares, compared to its average volume of 5,441,578. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The stock has a market cap of $11.46 billion, a P/E ratio of -31.48 and a beta of 0.92. The company’s fifty day simple moving average is $29.71 and its two-hundred day simple moving average is $25.63. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90.

Confluent (NASDAQ:CFLT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, equities analysts predict that Confluent, Inc. will post -0.9 EPS for the current year.

Institutional Trading of Confluent

Several institutional investors have recently made changes to their positions in CFLT. Creative Planning boosted its holdings in Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Confluent by 14.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 18,481 shares of the company’s stock valued at $377,000 after purchasing an additional 2,263 shares in the last quarter. US Bancorp DE lifted its stake in shares of Confluent by 307.7% in the 3rd quarter. US Bancorp DE now owns 16,702 shares of the company’s stock valued at $340,000 after purchasing an additional 12,605 shares in the last quarter. Janney Capital Management LLC grew its holdings in shares of Confluent by 52.2% during the 3rd quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock worth $406,000 after purchasing an additional 6,842 shares during the period. Finally, Fiera Capital Corp acquired a new stake in Confluent during the 3rd quarter worth approximately $21,127,000. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CFLT. Piper Sandler increased their target price on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group boosted their price objective on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Mizuho increased their target price on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup boosted their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Guggenheim raised their price objective on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.00.

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.