Confluent (NASDAQ:CFLT) CEO Sells $4,338,450.00 in Stock

Key Points

• Confluent CEO Edward Jay Kreps sold 232,500 shares of stock on September 4th for a total of $4,338,450, reducing his ownership by 38.14% to 377,074 shares.
• The company's quarterly earnings revealed a profit of $0.09 EPS, slightly exceeding analysts' expectations, with a year-over-year revenue increase of 20.1% to $282.29 million.
• Multiple analysts have adjusted their target prices for Confluent, with Wells Fargo lowering its estimate from $30 to $27, reflecting a cautious outlook despite positive earnings news.

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $18.66, for a total value of $4,338,450.00. Following the sale, the chief executive officer owned 377,074 shares of the company's stock, valued at approximately $7,036,200.84. This represents a 38.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $17.04, for a total transaction of $642,527.28.
• On Thursday, August 14th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The shares were sold at an average price of $17.18, for a total transaction of $3,994,350.00.

Confluent Stock Performance

CFLT traded down $0.56 during trading on Thursday, hitting $19.45. The company's stock had a trading volume of 7,074,667 shares, compared to its average volume of 6,707,887. The business's 50 day simple moving average is $21.15 and its 200-day simple moving average is $22.99. The firm has a market cap of $6.71 billion, a PE ratio of -20.69 and a beta of 0.97. Confluent, Inc. has a one year low of $15.64 and a one year high of $37.90. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.03.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CFLT. Cowen lowered shares of Confluent from a "buy" rating to a "hold" rating in a report on Thursday, July 31st. Oppenheimer reduced their price objective on shares of Confluent from $32.00 to $26.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. UBS Group dropped their target price on shares of Confluent from $32.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Citigroup cut their price target on Confluent from $30.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Finally, Zacks Research upgraded Confluent from a "strong sell" rating to a "hold" rating in a research report on Monday, September 1st. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $27.36.

Hedge Funds Weigh In On Confluent

Large investors have recently modified their holdings of the stock. Cloud Capital Management LLC bought a new stake in Confluent in the first quarter worth $26,000. Farther Finance Advisors LLC lifted its holdings in shares of Confluent by 252.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company's stock worth $36,000 after acquiring an additional 1,037 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Confluent by 2,458.2% during the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after purchasing an additional 1,647 shares during the period. Banque Transatlantique SA bought a new position in Confluent during the 1st quarter valued at about $43,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Confluent in the 2nd quarter worth about $49,000. Institutional investors own 78.09% of the company's stock.

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.