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 firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $24.10, for a total value of $69,022.40. Following the completion of the transaction, the director now owns 4,296 shares of the company's stock, valued at $103,533.60. The trade was a 40.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Confluent Price Performance

NASDAQ CFLT traded down $0.38 during trading hours on Friday, reaching $24.03. 1,383,328 shares of the stock traded hands, compared to its average volume of 4,880,026. 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 $8.18 billion, a price-to-earnings ratio of -22.27 and a beta of 0.98. The stock has a 50 day simple moving average of $22.19 and a two-hundred day simple moving average of $26.71. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $271.12 million during the quarter, compared to analysts' expectations of $264.45 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm's revenue was up 24.8% on a year-over-year basis. On average, analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CFLT has been the subject of a number of research analyst reports. Oppenheimer reduced their price target on Confluent from $35.00 to $32.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Loop Capital dropped their price objective on shares of Confluent from $30.00 to $22.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Scotiabank decreased their price target on shares of Confluent from $35.00 to $24.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird reduced their price target on Confluent from $37.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Guggenheim reduced their target price on shares of Confluent from $38.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and one has given 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 target price of $30.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CFLT. Inspire Investing LLC lifted its holdings in shares of Confluent by 21.3% during the first quarter. Inspire Investing LLC now owns 47,408 shares of the company's stock valued at $1,111,000 after purchasing an additional 8,312 shares in the last quarter. Rhumbline Advisers raised its stake in Confluent by 2.3% during the 1st 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 bought a new stake in shares of Confluent in the first quarter worth $618,000. SWS Partners grew its stake in shares of Confluent by 99.1% during the 1st quarter. SWS Partners now owns 107,330 shares of the company's stock valued at $2,516,000 after purchasing an additional 53,428 shares during the period. Finally, Focus Partners Wealth grew its position in shares of Confluent by 43.4% during the 1st quarter. Focus Partners Wealth now owns 409,461 shares of the company's stock valued at $9,598,000 after acquiring an additional 123,967 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.