Confluent, Inc. (NASDAQ:CFLT) Director Lara Caimi Sells 34,500 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Lara Caimi sold 34,500 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $31.32, for a total transaction of $1,080,540.00. Following the transaction, the director now owns 7,160 shares of the company’s stock, valued at $224,251.20. This trade represents a 82.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Confluent Price Performance

CFLT stock opened at $29.46 on Thursday. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of -26.54 and a beta of 0.88. The firm’s 50-day moving average price is $27.49 and its two-hundred day moving average price is $24.75. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $35.07.

Confluent (NASDAQ:CFLT) last announced its quarterly 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 the consensus estimate of $243.98 million. As a group, equities analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current year.

Hedge Funds Weigh In On Confluent

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EP Wealth Advisors LLC increased its position in Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after purchasing an additional 503 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Confluent by 9.6% during the second quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock valued at $374,000 after buying an additional 1,113 shares during the period. Truist Financial Corp raised its stake in Confluent by 5.3% in the second quarter. Truist Financial Corp now owns 24,420 shares of the company’s stock worth $721,000 after buying an additional 1,238 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its holdings in Confluent by 8.4% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,643 shares of the company’s stock worth $551,000 after buying an additional 1,448 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Confluent by 14.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 13,800 shares of the company’s stock valued at $408,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CFLT. JPMorgan Chase & Co. boosted their target price on Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Stifel Nicolaus boosted their price objective on Confluent from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday. Sanford C. Bernstein lowered their target price 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. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. Finally, Mizuho raised their price objective on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Confluent presently has an average rating of “Moderate Buy” and a consensus price target of $32.23.

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.