Confluent, Inc. (NASDAQ:CFLT) Major Shareholder Ventures Vii (Jersey) L. Index Sells 140,511 Shares

Confluent, Inc. (NASDAQ:CFLTGet Rating) major shareholder Ventures Vii (Jersey) L. Index sold 140,511 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $23.01, for a total transaction of $3,233,158.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Confluent Price Performance

Confluent stock opened at $22.49 on Thursday. Confluent, Inc. has a 52-week low of $16.48 and a 52-week high of $85.50. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of -13.47 and a beta of 1.26. The company has a fifty day simple moving average of $24.45 and a 200-day simple moving average of $24.70. The company has a quick ratio of 5.74, a current ratio of 5.74 and a debt-to-equity ratio of 1.38.

Institutional Investors Weigh In On Confluent

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. purchased a new stake in shares of Confluent during the first quarter worth $30,000. Focused Wealth Management Inc purchased a new stake in shares of Confluent in the first quarter valued at about $35,000. Geneos Wealth Management Inc. purchased a new stake in shares of Confluent in the first quarter valued at about $43,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Confluent in the second quarter valued at about $26,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Confluent in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 40.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CFLT shares. Morgan Stanley dropped their target price on shares of Confluent from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 3rd. Wells Fargo & Company lifted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. Credit Suisse Group decreased their price objective on shares of Confluent from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Confluent from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Confluent from $28.00 to $32.00 in a research note on Thursday, August 4th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.36.

About Confluent

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Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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