Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 9,467 Shares

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 9,467 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $267,253.41. Following the transaction, the insider now owns 678,016 shares in the company, valued at $19,140,391.68. This represents a 1.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $27.40, for a total transaction of $1,746,174.60.

Confluent Trading Up 3.0 %

NASDAQ:CFLT opened at $31.52 on Monday. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The business’s 50-day simple moving average is $23.35 and its 200 day simple moving average is $24.57. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of -28.40 and a beta of 0.82.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. As a group, sell-side analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CFLT. Sanford C. Bernstein dropped their price objective on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Needham & Company LLC restated a “buy” rating and set a $31.00 price objective on shares of Confluent in a research report on Friday, November 15th. Baird R W raised shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Wells Fargo & Company dropped their target price on Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Bank of America lowered their price objective on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. One investment 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Confluent in the 2nd quarter valued at about $68,000. Point72 Hong Kong Ltd bought a new stake in Confluent in the third quarter valued at about $68,000. UniSuper Management Pty Ltd raised its stake in Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after buying an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after buying an additional 859 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after buying an additional 1,167 shares during the last quarter. 78.09% of the stock is currently owned by 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.