Confluent (NASDAQ:CFLT) CEO Sells $3,994,350.00 in Stock

Key Points

• Confluent, Inc. CEO Edward Jay Kreps sold 232,500 shares at an average price of $17.18, totaling approximately $3.99 million, resulting in a 33.94% decrease in his holdings.
• Despite a positive quarterly earnings report where Confluent exceeded revenue expectations by 20.1%, analysts have adjusted their price targets downwards, with the average target now set at $27.36.
• Institutional investors own 78.09% of Confluent's stock, with several recent modifications to their holdings, indicating strong institutional interest in the company.

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CEO Edward Jay Kreps sold 232,500 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $17.18, for a total value of $3,994,350.00. Following the completion of the sale, the chief executive officer owned 452,488 shares in the company, valued at $7,773,743.84. The trade was a 33.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Edward Jay Kreps also recently made the following trade(s):

• On Wednesday, August 20th, Edward Jay Kreps sold 37,707 shares of Confluent stock. The shares were sold at an average price of $17.04, for a total transaction of $642,527.28.
• On Thursday, June 5th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The shares were sold at an average price of $24.50, for a total transaction of $5,696,250.00.
• On Tuesday, May 20th, Edward Jay Kreps sold 37,707 shares of Confluent stock. The shares were sold at an average price of $21.84, for a total transaction of $823,520.88.

Confluent Stock Performance

Shares of NASDAQ CFLT traded up $0.51 during midday trading on Friday, reaching $17.79. 8,778,537 shares of the company traded hands, compared to its average volume of 11,773,086. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $37.90. The stock has a 50-day moving average price of $22.44 and a 200 day moving average price of $24.16. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.98 and a quick ratio of 3.98. The company has a market cap of $6.13 billion, a price-to-earnings ratio of -18.93 and a beta of 0.96.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Confluent had a negative net margin of 29.27% and a negative return on equity of 27.34%. The business had revenue of $282.29 million for the quarter, compared to analysts' expectations of $278.32 million. During the same period in the previous year, the business earned $0.06 earnings per share. The company's revenue was up 20.1% on a year-over-year basis. Confluent has set its Q3 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.360-0.360 EPS. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Confluent

Institutional investors have recently bought and sold shares of the stock. Credit Industriel ET Commercial purchased a new position in Confluent in the 4th quarter worth about $28,000. Cloud Capital Management LLC purchased a new position in Confluent during the 1st quarter valued at about $26,000. Farther Finance Advisors LLC grew its stake in Confluent by 252.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company's stock valued at $36,000 after acquiring an additional 1,037 shares in the last quarter. Versant Capital Management Inc grew its stake in Confluent by 2,458.2% during the 1st 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 in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in Confluent during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 78.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CFLT shares. Evercore ISI lowered their target price on Confluent from $29.00 to $28.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. UBS Group lowered their target price on Confluent from $32.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Stephens started coverage on Confluent in a report on Friday, July 18th. They set an "overweight" rating and a $31.00 target price on the stock. Truist Financial lowered their target price on Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Capital One Financial set a $21.00 target price on Confluent in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $27.36.

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.