Erica Schultz Sells 113,729 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 113,729 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $30.29, for a total value of $3,444,851.41. Following the transaction, the insider now owns 502,424 shares in the company, valued at $15,218,422.96. The trade was a 18.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Erica Schultz also recently made the following trade(s):

• On Friday, February 21st, Erica Schultz sold 126,730 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value of $4,002,133.40.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $34.75, for a total value of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.68, for a total value of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.21, for a total value of $1,988,982.09.

Confluent Stock Performance

Shares of CFLT stock opened at $30.44 on Wednesday. The business’s 50-day moving average price is $29.84 and its 200-day moving average price is $26.17. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of -28.19 and a beta of 0.92. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data 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%. Equities research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CFLT. Needham & Company LLC raised their price target on Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. UBS Group raised their price target on Confluent from $26.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Evercore ISI raised their price target on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price target on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Bank of America raised their price target on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Hedge Funds Weigh In On Confluent

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Confluent by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock worth $694,207,000 after acquiring an additional 599,582 shares during the period. Champlain Investment Partners LLC lifted its stake 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 worth $302,940,000 after acquiring an additional 133,908 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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. lifted its stake in shares of Confluent by 18.1% in the fourth 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 during the period. Finally, Norges Bank bought a new stake in Confluent in the fourth quarter worth approximately $81,092,000. 78.09% of the stock is owned by institutional investors and hedge funds.

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.