Confluent, Inc. (NASDAQ:CFLT - Get Free Report) insider Erica Schultz sold 9,467 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $267,253.41. Following the transaction, the insider now directly owns 678,016 shares in the company, valued at approximately $19,140,391.68. The trade was a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Erica Schultz also recently made the following trade(s):
Shares of NASDAQ CFLT traded up $0.91 during midday trading on Friday, hitting $31.52. The company's stock had a trading volume of 5,460,246 shares, compared to its average volume of 4,379,470. The business's 50 day moving average is $23.12 and its two-hundred day moving average is $24.62. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $35.07. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a market cap of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82.
Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The business had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. As a group, equities research analysts expect that Confluent, Inc. will post -0.9 EPS for the current year.
Several equities analysts have commented on the company. Citigroup raised their price objective on Confluent from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Evercore ISI reduced their price target on Confluent from $33.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, September 20th. Scotiabank upped their target price on shares of Confluent from $25.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on shares of Confluent from $26.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Finally, Mizuho increased their price target on shares of Confluent from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.88.
View Our Latest Research Report on CFLT
A number of hedge funds have recently added to or reduced their stakes in CFLT. V Square Quantitative Management LLC purchased a new stake in shares of Confluent in the 2nd quarter worth approximately $68,000. Point72 Hong Kong Ltd bought a new position in shares of Confluent during the 3rd quarter worth approximately $68,000. UniSuper Management Pty Ltd boosted its stake in Confluent by 125.0% in the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company's stock valued at $82,000 after acquiring an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company's stock worth $91,000 after purchasing an additional 859 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company's stock worth $175,000 after purchasing an additional 1,167 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.
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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