Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 15,476 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) Director Eric Vishria sold 15,476 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $25.00, for a total transaction of $386,900.00. Following the transaction, the director now owns 1,154,400 shares in the company, valued at $28,860,000. This represents a 1.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Eric Vishria also recently made the following trade(s):

• On Monday, May 19th, Eric Vishria sold 30,953 shares of Confluent stock. The shares were sold at an average price of $21.93, for a total value of $678,799.29.

Confluent Stock Up 1.3%

Confluent stock traded up $0.32 during mid-day trading on Thursday, hitting $24.41. The company's stock had a trading volume of 3,886,451 shares, compared to its average volume of 4,894,708. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The company has a market cap of $8.31 billion, a PE ratio of -22.60 and a beta of 0.98. The firm's 50 day moving average is $22.11 and its 200 day moving average is $26.76. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The firm had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. During the same quarter in the prior year, the business earned $0.05 EPS. The company's revenue for the quarter was up 24.8% compared to the same quarter last year. On average, analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in shares of Confluent during the 1st quarter valued at about $26,000. Credit Industriel ET Commercial bought a new position in Confluent during the fourth quarter valued at approximately $28,000. Versant Capital Management Inc lifted its stake in Confluent by 2,458.2% in the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock valued at $40,000 after acquiring an additional 1,647 shares during the last quarter. Banque Transatlantique SA bought a new stake in Confluent in the first quarter worth approximately $43,000. Finally, SVB Wealth LLC acquired a new position in shares of Confluent during the 1st quarter worth $54,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. William Blair reissued an "outperform" rating on shares of Confluent in a research note on Monday, March 17th. Needham & Company LLC lowered their target price on Confluent from $40.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Truist Financial cut their price target on shares of Confluent from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Raymond James started coverage on shares of Confluent in a research note on Friday, April 11th. They issued an "outperform" rating and a $30.00 price objective on the stock. Finally, Guggenheim dropped their target price on shares of Confluent from $38.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.11.

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.