Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 63,729 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $34.75, for a total transaction of $2,214,582.75. Following the transaction, the insider now directly owns 678,016 shares of the company’s stock, valued at approximately $23,561,056. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The stock was sold at an average price of $35.82, for a total value 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 value of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The stock was 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 Stock Up 0.3 %

CFLT stock opened at $34.94 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The stock has a market capitalization of $11.46 billion, a P/E ratio of -31.48 and a beta of 0.92. The business has a fifty day moving average price of $29.79 and a 200-day moving average price of $25.74.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Equities analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CFLT has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Citigroup upped their target price on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Wells Fargo & Company increased their target price on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price target on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Truist Financial increased their price objective on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently 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 added to or reduced their stakes in CFLT. Credit Industriel ET Commercial purchased a new position in Confluent in the fourth quarter worth about $28,000. Blue Trust Inc. lifted its stake in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Confluent in the fourth quarter worth approximately $59,000. Point72 Hong Kong Ltd purchased a new position in shares of Confluent in the third quarter worth approximately $68,000. Finally, GAMMA Investing LLC grew its position in 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 period. 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.