Erica Schultz Sells 150,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 150,000 shares of Confluent stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00. Following the completion of the sale, the insider now directly owns 678,016 shares in the company, valued at approximately $24,286,533.12. The trade was a 18.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 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 value of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.60, for a total value of $2,013,836.40.
• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total transaction of $267,253.41.

Confluent Trading Down 4.9 %

NASDAQ:CFLT opened at $33.23 on Thursday. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of -30.77 and a beta of 0.92. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a 50 day moving average of $29.83 and a 200 day moving average of $25.79.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 35.45%. As a group, sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. TD Cowen lifted their price target on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein reduced their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Citigroup boosted their price objective on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Scotiabank increased their target price on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.00.

Institutional Investors Weigh In On Confluent

A number of large investors have recently modified their holdings of CFLT. ProShare Advisors LLC boosted its stake in Confluent by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock worth $301,000 after purchasing an additional 328 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Confluent by 4.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock worth $323,000 after buying an additional 458 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after buying an additional 503 shares during the period. Truist Financial Corp grew its holdings in shares of Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after buying an additional 514 shares during the last quarter. Finally, Jasper Ridge Partners L.P. increased its position in shares of Confluent by 4.8% in the 4th quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company’s stock valued at $403,000 after acquiring an additional 664 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

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.