Confluent, Inc. (NASDAQ:CFLT) CEO Sells $5,224,275.00 in Stock

Confluent, Inc. (NASDAQ:CFLTGet Rating) CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $22.47, for a total value of $5,224,275.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Confluent Trading Down 2.7 %

Shares of Confluent stock opened at $20.88 on Friday. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of -12.50 and a beta of 1.26. Confluent, Inc. has a fifty-two week low of $16.48 and a fifty-two week high of $85.50. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.74 and a current ratio of 5.74. The stock has a 50 day moving average of $24.16 and a 200 day moving average of $24.59.

Confluent (NASDAQ:CFLTGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.40) EPS for the quarter, hitting the consensus estimate of ($0.40). Confluent had a negative return on equity of 55.60% and a negative net margin of 85.83%. The business had revenue of $151.73 million during the quarter, compared to analyst estimates of $144.39 million. As a group, research analysts predict that Confluent, Inc. will post -1.62 earnings per share for the current year.

Institutional Trading of Confluent

Several hedge funds have recently modified their holdings of the stock. Credit Suisse AG raised its stake in shares of Confluent by 1.7% in the second quarter. Credit Suisse AG now owns 21,325 shares of the company’s stock valued at $495,000 after acquiring an additional 362 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Confluent by 37.7% in the second quarter. Geneos Wealth Management Inc. now owns 1,473 shares of the company’s stock valued at $36,000 after acquiring an additional 403 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Confluent by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 62,332 shares of the company’s stock valued at $1,482,000 after acquiring an additional 491 shares in the last quarter. Penserra Capital Management LLC raised its stake in Confluent by 50.0% in the first quarter. Penserra Capital Management LLC now owns 1,926 shares of the company’s stock valued at $78,000 after buying an additional 642 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Confluent by 1.3% in the third quarter. Treasurer of the State of North Carolina now owns 53,222 shares of the company’s stock valued at $1,265,000 after buying an additional 680 shares in the last quarter. 40.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Confluent from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Barclays lowered their target price on Confluent from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 3rd. Truist Financial started coverage on Confluent in a report on Friday, September 30th. They issued a “buy” rating and a $35.00 price target for the company. Wells Fargo & Company upped their price target on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Finally, Citigroup reduced their price target on Confluent from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, November 1st. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Confluent presently 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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Insider Buying and Selling by Quarter for Confluent (NASDAQ:CFLT)

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