Erica Schultz Sells 63,729 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $34.75, for a total value of $2,214,582.75. Following the transaction, the insider now directly owns 678,016 shares in the company, valued at $23,561,056. This represents a 8.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The shares were 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 transaction of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.21, for a total transaction of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.60, for a total transaction of $2,013,836.40.
• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total value of $267,253.41.

Confluent Price Performance

CFLT opened at $33.23 on Thursday. 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 stock’s 50 day simple moving average is $29.83 and its 200 day simple moving average is $25.79. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of -30.77 and a beta of 0.92. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 35.45% and a negative net margin of 35.81%. As a group, analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Confluent

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cache Advisors LLC bought a new stake in shares of Confluent in the fourth quarter worth about $1,322,000. Neo Ivy Capital Management purchased a new stake in Confluent in the 4th quarter worth approximately $2,088,000. Vident Advisory LLC bought a new stake in shares of Confluent in the 4th quarter worth approximately $972,000. Tairen Capital Ltd increased its stake in shares of Confluent by 45.6% during the fourth quarter. Tairen Capital Ltd now owns 72,798 shares of the company’s stock valued at $2,035,000 after buying an additional 22,798 shares during the period. Finally, Shay Capital LLC bought a new position in shares of Confluent during the fourth quarter valued at approximately $419,000. 78.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on CFLT shares. Sanford C. Bernstein dropped their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Barclays raised their price objective on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Mizuho upped their target price on shares of Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Piper Sandler raised their price target on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Citigroup upped their price target on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.