Edward Jay Kreps Sells 232,500 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $14,628,937.04. This trade represents a 33.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Confluent Trading Up 0.3 %

CFLT stock opened at $31.09 on Tuesday. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The firm’s 50-day moving average is $29.86 and its 200 day moving average is $26.10. The company has a market capitalization of $10.20 billion, a PE ratio of -28.79 and a beta of 0.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) 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%. On average, research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Institutional Investors Weigh In On Confluent

A number of institutional investors and hedge funds have recently bought and sold shares of CFLT. Vanguard Group Inc. grew its position in shares of Confluent by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock worth $694,207,000 after buying an additional 599,582 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Confluent by 1.3% in the fourth quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company’s stock valued at $302,940,000 after acquiring an additional 133,908 shares in the last quarter. Geode Capital Management LLC lifted its stake in Confluent by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock worth $123,339,000 after acquiring an additional 84,163 shares during the period. Jericho Capital Asset Management L.P. grew its holdings in Confluent by 18.1% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company’s stock worth $83,880,000 after acquiring an additional 459,000 shares in the last quarter. Finally, Norges Bank purchased a new position in Confluent during the 4th quarter valued at about $81,092,000. 78.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC boosted their target price on Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus upped their price objective on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. UBS Group raised their target price on shares of Confluent from $26.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Mizuho upped their price target on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Guggenheim increased their price objective on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.00.

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.