Confluent, Inc. (NASDAQ:CFLT) Director Neha Narkhede Sells 40,000 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Neha Narkhede sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.68, for a total value of $1,227,200.00. Following the transaction, the director now owns 20,247 shares in the company, valued at $621,177.96. The trade was a 66.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Confluent Price Performance

Confluent stock opened at $32.20 on Thursday. The firm’s 50-day moving average is $30.00 and its two-hundred day moving average is $26.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The stock has a market capitalization of $10.76 billion, a P/E ratio of -29.81 and a beta of 0.92. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90.

Confluent (NASDAQ:CFLT) last announced its earnings results 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 return on equity of 34.70% and a negative net margin of 35.81%. Equities analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Confluent

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Industriel ET Commercial purchased a new position in Confluent during the fourth quarter worth about $28,000. Blue Trust Inc. increased its stake in shares of Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after acquiring an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Confluent during the 4th quarter worth about $59,000. GAMMA Investing LLC boosted its position in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Confluent in the third quarter valued at approximately $68,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. 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 note on Wednesday, February 12th. Guggenheim boosted their target price on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus upped their price target on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $38.00 in a research note on Wednesday, February 26th. Finally, Scotiabank upped their target price on shares of Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price 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.