Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 15,476 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Eric Vishria sold 15,476 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $25.00, for a total value of $386,900.00. Following the transaction, the director now owns 1,154,400 shares in the company, valued at $28,860,000. This represents a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Eric Vishria also recently made the following trade(s):

• On Monday, May 19th, Eric Vishria sold 30,953 shares of Confluent stock. The stock was sold at an average price of $21.93, for a total value of $678,799.29.

Confluent Price Performance

Shares of CFLT stock traded up $0.03 during trading on Monday, hitting $24.39. The company had a trading volume of 3,921,639 shares, compared to its average volume of 4,888,342. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The firm has a market capitalization of $8.30 billion, a P/E ratio of -22.58 and a beta of 0.98. The stock’s 50-day moving average price is $21.97 and its 200 day moving average price is $26.85.

Confluent (NASDAQ:CFLT) last released its quarterly 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. The firm had revenue of $271.12 million during the quarter, compared to analyst estimates of $264.45 million. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. Equities analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Credit Industriel ET Commercial purchased a new position in shares of Confluent in the fourth quarter worth about $28,000. Cloud Capital Management LLC purchased a new stake in shares of Confluent during the first quarter worth about $26,000. Versant Capital Management Inc lifted its holdings in Confluent by 2,458.2% in the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company’s stock worth $40,000 after buying an additional 1,647 shares during the period. Banque Transatlantique SA bought a new stake in Confluent during the first quarter worth about $43,000. Finally, Blue Trust Inc. raised its position in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CFLT. Morgan Stanley lowered their price objective on shares of Confluent from $32.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada upped their target price on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Stifel Nicolaus cut their price target on shares of Confluent from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of Confluent from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, DA Davidson lowered their target price on Confluent from $42.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, 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.