Confluent, Inc. (NASDAQ:CFLT) Director Lara Caimi Sells 2,864 Shares

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) Director Lara Caimi sold 2,864 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $24.10, for a total transaction of $69,022.40. Following the transaction, the director now owns 4,296 shares of the company's stock, valued at approximately $103,533.60. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Confluent Stock Down 3.1%

Shares of Confluent stock traded down $0.76 during trading on Friday, hitting $23.65. 4,449,415 shares of the stock were exchanged, compared to its average volume of 4,905,433. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of -21.90 and a beta of 0.98. The firm's 50-day moving average price is $22.27 and its 200 day moving average price is $26.63. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. 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 (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $271.12 million during the quarter, compared to analysts' expectations of $264.45 million. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The company's revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. As a group, analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Confluent

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC lifted its position in Confluent by 21.3% in the first quarter. Inspire Investing LLC now owns 47,408 shares of the company's stock valued at $1,111,000 after acquiring an additional 8,312 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Confluent by 2.3% in the first quarter. Rhumbline Advisers now owns 295,282 shares of the company's stock valued at $6,921,000 after buying an additional 6,508 shares during the last quarter. Strs Ohio purchased a new stake in shares of Confluent in the first quarter valued at about $618,000. SWS Partners raised its holdings in shares of Confluent by 99.1% in the first quarter. SWS Partners now owns 107,330 shares of the company's stock valued at $2,516,000 after buying an additional 53,428 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Confluent by 43.4% in the first quarter. Focus Partners Wealth now owns 409,461 shares of the company's stock valued at $9,598,000 after buying an additional 123,967 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on CFLT shares. Robert W. Baird cut their price objective on shares of Confluent from $37.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Canaccord Genuity Group cut their price objective on shares of Confluent from $38.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, May 1st. TD Securities cut their price objective on shares of Confluent from $34.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Evercore ISI cut their price objective on shares of Confluent from $29.00 to $28.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company cut their price objective on shares of Confluent from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.