Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 126,730 Shares

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 126,730 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.58, for a total transaction of $4,002,133.40. Following the completion of the transaction, the insider now directly owns 552,424 shares in the company, valued at $17,445,549.92. The trade was a 18.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, February 25th, Erica Schultz sold 113,729 shares of Confluent stock. The shares were sold at an average price of $30.29, for a total value of $3,444,851.41.
• 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 Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The shares were 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 stock was 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.

Confluent Stock Up 2.9 %

CFLT opened at $31.69 on Friday. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of -29.34 and a beta of 0.92. The company’s 50-day moving average price is $29.93 and its two-hundred day moving average price is $26.24. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) 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%. As a group, equities analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Confluent

Several hedge funds have recently made changes to their positions in CFLT. Quantbot Technologies LP grew its stake in Confluent by 1,465.6% during the third quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock valued at $617,000 after acquiring an additional 28,360 shares in the last quarter. Pathway Capital Management LP bought a new position in Confluent during the third quarter valued at approximately $918,000. Charles Schwab Investment Management Inc. raised its position in Confluent by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock worth $46,549,000 after purchasing an additional 64,926 shares during the period. Creative Planning lifted its stake in shares of Confluent by 109.9% in the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Confluent by 152.4% in the third quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company’s stock valued at $1,398,000 after purchasing an additional 41,431 shares during the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on CFLT shares. TD Cowen upped their price target on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Guggenheim raised their price target on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Scotiabank increased their price target on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and boosted their target price for the company from $34.00 to $38.00 in a research report on Wednesday. Finally, Truist Financial increased their price target 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, seven have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.