Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi Sells 25,000 Shares

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) Director Michelangelo Volpi sold 25,000 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $25.00, for a total transaction of $625,000.00. Following the transaction, the director now directly owns 267,079 shares in the company, valued at approximately $6,676,975. The trade was a 8.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Confluent Stock Performance

Shares of NASDAQ CFLT traded up $0.32 during trading on Thursday, reaching $24.41. 3,886,451 shares of the company traded hands, compared to its average volume of 4,894,708. The firm has a 50 day simple moving average of $22.11 and a 200-day simple moving average of $26.76. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The stock has a market capitalization of $8.31 billion, a PE ratio of -22.60 and a beta of 0.98. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share 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 for the quarter, compared to the consensus estimate of $264.45 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The firm's revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Trading of Confluent

Large investors have recently modified their holdings of the company. Credit Industriel ET Commercial bought a new position in Confluent in the fourth quarter valued at about $28,000. Cloud Capital Management LLC purchased a new stake in shares of Confluent during the 1st quarter valued at about $26,000. Versant Capital Management Inc lifted its stake in shares of Confluent by 2,458.2% in 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 stake in Confluent during the first quarter valued at approximately $43,000. Finally, Blue Trust Inc. grew its position in Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after buying an additional 1,607 shares during the period. Institutional investors own 78.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CFLT shares. Evercore ISI decreased their target price on Confluent from $29.00 to $28.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Oppenheimer lowered their price objective on Confluent from $35.00 to $32.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Truist Financial reduced their target price on shares of Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. DA Davidson decreased their price target on shares of Confluent from $42.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Bank of America lifted their price target on shares of Confluent from $26.00 to $31.00 and gave the company an "underperform" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Confluent has a consensus rating of "Moderate Buy" and an average price target 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.