Confluent, Inc. (NASDAQ:CFLT) Insider Melanie Davis Vinson Sells 14,087 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Melanie Davis Vinson sold 14,087 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $21.83, for a total transaction of $307,519.21. Following the completion of the sale, the insider now owns 429,599 shares of the company’s stock, valued at approximately $9,378,146.17. This trade represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Melanie Davis Vinson also recently made the following trade(s):

• On Thursday, May 22nd, Melanie Davis Vinson sold 13,937 shares of Confluent stock. The stock was sold at an average price of $21.86, for a total transaction of $304,662.82.

Confluent Price Performance

Shares of NASDAQ:CFLT opened at $21.89 on Friday. The stock has a market capitalization of $7.45 billion, a P/E ratio of -20.27 and a beta of 1.02. The business has a 50-day moving average of $22.57 and a two-hundred day moving average of $27.23. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. 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 (NASDAQ:CFLT) last posted its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $271.12 million during the quarter, compared to analyst estimates of $264.45 million. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. On average, equities research analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CFLT shares. Scotiabank reduced their target price on Confluent from $35.00 to $24.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th. Canaccord Genuity Group decreased their price objective on Confluent from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Piper Sandler lowered their target price on Confluent from $40.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada upped their target price on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Raymond James initiated coverage on shares of Confluent in a report on Friday, April 11th. They set an “outperform” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.11.

Institutional Trading of Confluent

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in Confluent in the 4th quarter valued at $81,092,000. Pictet Asset Management Holding SA boosted its holdings in Confluent by 7,342.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock valued at $65,748,000 after acquiring an additional 2,319,919 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in Confluent during the fourth quarter valued at about $64,658,000. 1832 Asset Management L.P. acquired a new stake in shares of Confluent in the first quarter valued at about $48,547,000. Finally, Vanguard Group Inc. increased its stake in shares of Confluent by 7.2% in the first quarter. Vanguard Group Inc. now owns 26,620,150 shares of the company’s stock worth $623,976,000 after purchasing an additional 1,791,588 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.