Confluent, Inc. (NASDAQ:CFLT) Director Sells $1,800,143.68 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 53,512 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $33.64, for a total value of $1,800,143.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 9th, Matthew Craig Miller sold 347,646 shares of Confluent stock. The shares were sold at an average price of $32.69, for a total value of $11,364,547.74.
• 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 value of $5,191,423.20.
• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The stock was sold at an average price of $30.32, for a total value of $16,428,892.00.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The stock was sold at an average price of $28.90, for a total value of $31,335,085.10.
• 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

Shares of NASDAQ CFLT traded down $1.16 during trading hours on Tuesday, reaching $31.28. 4,745,457 shares of the stock were exchanged, compared to its average volume of 4,358,160. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of -28.18 and a beta of 0.88. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The stock’s fifty day simple moving average is $26.17 and its 200 day simple moving average is $24.63.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Sell-side analysts predict that Confluent, Inc. will post -0.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Evercore ISI reduced their price objective on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. TD Cowen boosted their price objective on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price objective on Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price objective on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Wolfe Research raised Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.23.

Institutional Investors Weigh In On Confluent

A number of large investors have recently modified their holdings of CFLT. Champlain Investment Partners LLC boosted its holdings in shares of Confluent by 72.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after acquiring an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Confluent by 28.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after acquiring an additional 1,684,100 shares in the last quarter. William Blair Investment Management LLC bought a new position in Confluent during the 2nd quarter worth $193,403,000. Geode Capital Management LLC raised its position in Confluent by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock worth $88,180,000 after purchasing an additional 107,510 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Confluent by 60.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after purchasing an additional 1,316,804 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.