Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 126,730 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 126,730 shares of Confluent stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.58, for a total value of $4,002,133.40. Following the completion of the transaction, the insider now owns 552,424 shares of the company’s stock, valued at $17,445,549.92. The trade was a 18.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, February 25th, Erica Schultz sold 113,729 shares of Confluent stock. The shares were sold at an average price of $30.29, for a total value of $3,444,851.41.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $34.75, for a total value of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The stock was 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 stock was 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 stock was sold at an average price of $31.21, for a total value of $1,988,982.09.

Confluent Stock Down 2.1 %

CFLT opened at $30.44 on Wednesday. The business’s fifty day moving average is $29.84 and its two-hundred day moving average is $26.17. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The company has a market cap of $9.98 billion, a price-to-earnings ratio of -28.19 and a beta of 0.92. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CFLT. UBS Group raised their target price on Confluent from $26.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Barclays raised their target price on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Robert W. Baird lifted their price target on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Canaccord Genuity Group lifted their price target on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Citigroup lifted their price target 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, eight have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Institutional Trading of Confluent

A number of institutional investors have recently bought and sold shares of the company. Cache Advisors LLC acquired a new position in shares of Confluent in the fourth quarter worth $1,322,000. Neo Ivy Capital Management acquired a new position in Confluent in the fourth quarter valued at $2,088,000. Vident Advisory LLC acquired a new position in Confluent in the fourth quarter valued at $972,000. Tairen Capital Ltd increased its stake in Confluent by 45.6% in the fourth quarter. Tairen Capital Ltd now owns 72,798 shares of the company’s stock valued at $2,035,000 after purchasing an additional 22,798 shares during the last quarter. Finally, Shay Capital LLC acquired a new position in Confluent in the fourth quarter valued at $419,000. 78.09% of the stock is currently owned by hedge funds and other 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.