Erica Schultz Sells 113,729 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 113,729 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $30.29, for a total transaction of $3,444,851.41. Following the sale, the insider now directly owns 502,424 shares of the company’s stock, valued at approximately $15,218,422.96. This trade represents a 18.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, February 21st, Erica Schultz sold 126,730 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total transaction of $4,002,133.40.
• 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 transaction of $2,214,582.75.
• 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 transaction 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 transaction 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 transaction of $1,988,982.09.

Confluent Trading Up 1.1 %

NASDAQ:CFLT opened at $30.79 on Thursday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of -28.51 and a beta of 0.92. The firm has a fifty day simple moving average of $29.86 and a two-hundred day simple moving average of $26.21. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90.

Confluent (NASDAQ:CFLT) last posted its quarterly 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 expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

CFLT has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. UBS Group raised shares of Confluent from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $38.00 in a research note on Wednesday. Needham & Company LLC raised their price target on shares of Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price target on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Barclays raised their price target on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.15.

Institutional Investors Weigh In On Confluent

A number of large investors have recently bought and sold shares of CFLT. Credit Industriel ET Commercial acquired a new position in shares of Confluent during the fourth quarter valued at about $28,000. Blue Trust Inc. grew its holdings in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after buying an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Confluent during the fourth quarter valued at about $59,000. Point72 Hong Kong Ltd acquired a new position in shares of Confluent during the third quarter valued at about $68,000. Finally, GAMMA Investing LLC grew its holdings in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.