Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 1,084,259 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 1,084,259 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total transaction of $31,335,085.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Stock Performance

Shares of NASDAQ CFLT opened at $27.07 on Friday. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of -24.39 and a beta of 0.82. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The business’s 50-day simple moving average is $22.39 and its 200-day simple moving average is $24.61. 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 (NASDAQ:CFLT) last released its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, equities research analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Confluent

A number of hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in Confluent during the second quarter valued at approximately $68,000. Point72 Hong Kong Ltd acquired a new position in Confluent during the 3rd quarter worth about $68,000. UniSuper Management Pty Ltd grew its holdings in Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. increased its position in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of 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 acquiring an additional 1,167 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Ratings Changes

CFLT has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Piper Sandler lowered their price target on Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Mizuho boosted their price objective on Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 target price on shares of Confluent in a research note on Friday. Finally, Evercore ISI lowered their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

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.