Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 9,375 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) Director Lara Caimi sold 9,375 shares of the company's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $31.00, for a total transaction of $290,625.00. Following the transaction, the director now directly owns 5,399 shares of the company's stock, valued at approximately $167,369. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lara Caimi also recently made the following trade(s):

• On Monday, March 11th, Lara Caimi sold 46,875 shares of Confluent stock. The shares were sold at an average price of $31.90, for a total transaction of $1,495,312.50.

Confluent Price Performance

CFLT traded down $1.61 during trading on Friday, reaching $29.42. 3,732,567 shares of the company traded hands, compared to its average volume of 4,843,899. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.62 and a current ratio of 4.62. Confluent, Inc. has a 12-month low of $14.69 and a 12-month high of $41.22. The firm has a fifty day simple moving average of $30.14 and a 200 day simple moving average of $26.31. The company has a market cap of $9.20 billion, a P/E ratio of -21.11 and a beta of 0.93.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The business had revenue of $213.18 million during the quarter, compared to analysts' expectations of $204.62 million. Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. On average, equities analysts forecast that Confluent, Inc. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. JMP Securities lifted their price target on shares of Confluent from $38.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Wednesday. Canaccord Genuity Group upgraded shares of Confluent from a "hold" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Wednesday. TD Cowen lifted their price target on shares of Confluent from $34.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday. Barclays lifted their price objective on shares of Confluent from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, UBS Group lifted their target price on shares of Confluent from $21.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Confluent currently has a consensus rating of "Moderate Buy" and an average price target of $32.88.

Institutional Trading of Confluent

Institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd raised its holdings in shares of Confluent by 1.9% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 19,129 shares of the company's stock valued at $448,000 after acquiring an additional 359 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Confluent by 5.0% during the fourth quarter. Fifth Third Bancorp now owns 11,703 shares of the company's stock worth $274,000 after acquiring an additional 556 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Confluent by 0.3% during the third quarter. Rhumbline Advisers now owns 243,828 shares of the company's stock worth $7,220,000 after acquiring an additional 629 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Confluent by 6.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 11,300 shares of the company's stock valued at $264,000 after buying an additional 700 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Confluent by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 82,082 shares of the company's stock valued at $1,921,000 after buying an additional 800 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors.

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.

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