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 company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 502,424 shares of the company’s stock, 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 SEC, which is available through 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 transaction of $4,002,133.40.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were 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 transaction of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were 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.

Confluent Stock Performance

Confluent stock opened at $31.69 on Friday. The company has a market cap of $10.39 billion, a price-to-earnings ratio of -29.34 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, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The stock’s 50-day moving average is $29.93 and its 200-day moving average is $26.24.

Confluent (NASDAQ:CFLT) last issued 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 analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CFLT. Truist Financial increased their price objective on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their target price on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Mizuho raised their target price on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, TD Cowen increased their price objective on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.15.

Institutional Investors Weigh In On Confluent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Credit Industriel ET Commercial acquired a new stake in Confluent during the 4th quarter valued at approximately $28,000. Blue Trust Inc. increased its stake in Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Confluent during the fourth quarter worth about $59,000. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent during the 3rd quarter worth approximately $68,000. Finally, GAMMA Investing LLC boosted its position in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Hedge funds and other institutional investors 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.