Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps Sells 23,500 Shares

Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps sold 23,500 shares of Confluent stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $22.67, for a total value of $532,745.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $10,257,902.96. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Edward Jay Kreps also recently made the following trade(s):

• On Thursday, March 6th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The shares were sold at an average price of $29.36, for a total transaction of $6,826,200.00.
• On Thursday, February 20th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00.

Confluent Stock Performance

CFLT stock opened at $21.89 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The company has a market cap of $7.45 billion, a P/E ratio of -20.27 and a beta of 1.02. The stock’s fifty day moving average price is $22.86 and its 200-day moving average price is $27.34.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The business had revenue of $271.12 million for the quarter, compared to analysts’ expectations of $264.45 million. During the same period last year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Trading of Confluent

Several large investors have recently added to or reduced their stakes in the business. Jackson Square Capital LLC bought a new position in Confluent in the fourth quarter worth approximately $389,000. Inspire Investing LLC purchased a new stake in shares of Confluent in the 4th quarter worth $1,093,000. Zweig DiMenna Associates LLC bought a new position in Confluent in the 4th quarter worth $1,146,000. Blue Trust Inc. lifted 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 purchasing an additional 1,607 shares in the last quarter. Finally, KBC Group NV lifted its position in Confluent by 683.8% during the fourth quarter. KBC Group NV now owns 122,090 shares of the company’s stock valued at $3,414,000 after purchasing an additional 106,513 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of recent research reports. Piper Sandler lowered their price target on shares of Confluent from $40.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. William Blair reiterated an “outperform” rating on shares of Confluent in a report on Monday, March 17th. Bank of America upped their price target on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 12th. Needham & Company LLC reduced their price objective on Confluent from $40.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price objective on Confluent from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.