Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 1,084,259 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 1,084,259 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total value of $31,335,085.10. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The stock was sold at an average price of $27.51, for a total value of $29,359,827.42.

Confluent Stock Performance

NASDAQ CFLT traded down $1.46 on Friday, hitting $27.07. 3,941,810 shares of the stock were exchanged, compared to its average volume of 4,374,944. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The business’s fifty day moving average is $22.24 and its 200 day moving average is $24.62. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The company has a market capitalization of $8.88 billion, a PE ratio of -25.70 and a beta of 0.82.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data 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. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The firm had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Research analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group decreased their price objective on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. TD Cowen lifted their price target on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price target on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Mizuho lifted their price objective on Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Evercore ISI lowered their price objective on Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Hedge Funds Weigh In On Confluent

Hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Confluent in the second quarter worth approximately $68,000. Point72 Hong Kong Ltd bought a new position in shares of Confluent during the third quarter valued at approximately $68,000. UniSuper Management Pty Ltd raised its holdings in shares of Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after acquiring an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.