Insider Selling: Confluent (NASDAQ:CFLT) CEO Sells 232,500 Shares of Stock

Key Points

• Confluent CEO Edward Jay Kreps sold 232,500 shares on Dec. 15 at an average price of $30.10 for about $6.998M, trimming his stake by 40.66% to 339,367 shares; this follows other large disposals (506,000 shares on Dec. 12, 232,500 on Nov. 13, and 37,707 on Nov. 20), indicating a sustained pattern of insider selling.
• Shares traded around $29.96 (down 0.4%) on heavy volume (~18.4M vs. avg 7.9M); Confluent recently beat quarterly revenue and EPS estimates but remains unprofitable (negative net margin and P/E), and analysts carry a consensus "Hold" rating with a $28.71 price target.

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $30.10, for a total value of $6,998,250.00. Following the transaction, the chief executive officer directly owned 339,367 shares of the company's stock, valued at approximately $10,214,946.70. This trade represents a 40.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, December 12th, Edward Jay Kreps sold 506,000 shares of Confluent stock. The shares were sold at an average price of $30.04, for a total transaction of $15,200,240.00.
• On Thursday, November 20th, Edward Jay Kreps sold 37,707 shares of Confluent stock. The stock was sold at an average price of $22.20, for a total transaction of $837,095.40.
• On Thursday, November 13th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The shares were sold at an average price of $23.53, for a total transaction of $5,470,725.00.

Confluent Stock Down 0.4%

NASDAQ:CFLT traded down $0.11 on Tuesday, hitting $29.96. 18,392,934 shares of the company's stock were exchanged, compared to its average volume of 7,927,212. The firm has a 50-day moving average price of $23.61 and a 200-day moving average price of $22.35. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.01 and a quick ratio of 4.01. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $37.90. The company has a market cap of $10.48 billion, a P/E ratio of -33.29 and a beta of 0.99.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Monday, October 27th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $298.52 million during the quarter, compared to analysts' expectations of $292.69 million. Confluent had a negative return on equity of 25.40% and a negative net margin of 27.32%.Confluent's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. Confluent has set its Q4 2025 guidance at 0.090-0.100 EPS and its FY 2025 guidance at 0.390-0.400 EPS. As a group, analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Confluent

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Confluent by 10.5% in the third quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company's stock valued at $620,675,000 after purchasing an additional 2,970,708 shares during the period. Altimeter Capital Management LP raised its holdings in Confluent by 11.0% in the 1st quarter. Altimeter Capital Management LP now owns 13,042,080 shares of the company's stock valued at $305,706,000 after acquiring an additional 1,295,710 shares during the period. Champlain Investment Partners LLC lifted its position in Confluent by 6.7% during the second quarter. Champlain Investment Partners LLC now owns 11,590,026 shares of the company's stock worth $288,939,000 after acquiring an additional 727,943 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Confluent by 3.8% during the second quarter. William Blair Investment Management LLC now owns 9,639,102 shares of the company's stock worth $240,303,000 after acquiring an additional 356,277 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Confluent by 1.7% during the second quarter. Franklin Resources Inc. now owns 8,592,443 shares of the company's stock worth $214,210,000 after acquiring an additional 143,232 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore ISI set a $31.00 price target on Confluent in a research report on Monday, December 8th. Wolfe Research downgraded shares of Confluent from an "outperform" rating to a "hold" rating in a report on Monday, December 8th. Robert W. Baird upped their price target on shares of Confluent from $26.00 to $31.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 9th. Wells Fargo & Company reissued an "equal weight" rating and issued a $31.00 price objective on shares of Confluent in a research report on Monday, December 8th. Finally, Royal Bank Of Canada lowered shares of Confluent from an "outperform" rating to a "sector perform" rating and boosted their price objective for the stock from $30.00 to $31.00 in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $28.71.

About Confluent

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.

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