Jonathan Chadwick Sells 34,375 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Jonathan Chadwick sold 34,375 shares of Confluent stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $30.57, for a total value of $1,050,843.75. Following the sale, the director now directly owns 22,688 shares in the company, valued at approximately $693,572.16. This trade represents a 60.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Confluent Trading Up 2.9 %

NASDAQ CFLT traded up $0.90 on Thursday, hitting $31.69. 7,869,767 shares of the stock were exchanged, compared to its average volume of 4,207,879. The company’s 50-day moving average price is $29.86 and its two-hundred day moving average price is $26.21. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of -29.34 and a beta of 0.92.

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

Hedge Funds Weigh In On Confluent

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP boosted its holdings in shares of Confluent by 1,465.6% during the third quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after purchasing an additional 28,360 shares during the period. Pathway Capital Management LP acquired a new stake in shares of Confluent during the 3rd quarter valued at $918,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Confluent by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after acquiring an additional 64,926 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Confluent by 152.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company’s stock valued at $1,398,000 after acquiring an additional 41,431 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Confluent in the third quarter worth $868,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CFLT. UBS Group raised Confluent from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $38.00 in a research note on Wednesday. Robert W. Baird lifted their price objective on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their target price on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Scotiabank raised their target price on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus upped their price target on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.15.

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.