Confluent, Inc. (NASDAQ:CFLT) Director Sells $11,364,547.74 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 347,646 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $32.69, for a total transaction of $11,364,547.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Matthew Craig Miller also recently made the following trade(s):

• On Friday, December 6th, Matthew Craig Miller sold 53,512 shares of Confluent stock. The shares were sold at an average price of $33.64, for a total transaction of $1,800,143.68.
• On Monday, November 25th, Matthew Craig Miller sold 157,890 shares of Confluent stock. The shares were sold at an average price of $32.88, for a total transaction of $5,191,423.20.
• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The shares were sold at an average price of $30.32, for a total transaction of $16,428,892.00.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The shares were sold at an average price of $28.90, for a total transaction of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The shares were sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Stock Down 3.6 %

NASDAQ:CFLT traded down $1.16 during midday trading on Tuesday, reaching $31.28. 4,745,457 shares of the stock traded hands, compared to its average volume of 4,358,160. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $35.07. The business has a 50-day moving average of $26.17 and a two-hundred day moving average of $24.63. 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 capitalization of $10.26 billion, a PE ratio of -28.18 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, equities analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CFLT shares. Mizuho upped their price objective on shares of Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Citigroup increased their price target on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. 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. Wolfe Research raised shares of Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, UBS Group increased their price target on shares of Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Confluent currently has a consensus rating of “Moderate Buy” and an average price target of $31.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CFLT. V Square Quantitative Management LLC acquired a new stake in shares of Confluent in the second quarter worth $68,000. Point72 Hong Kong Ltd acquired a new stake in Confluent during the third quarter valued at $68,000. Acadian Asset Management LLC acquired a new stake in Confluent during the second quarter valued at $175,000. Plato Investment Management Ltd grew its position in Confluent by 2,184.1% during the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after buying an additional 6,312 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Confluent during the third quarter valued at $214,000. 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.