Confluent (NASDAQ:CFLT) Director Eric Vishria Sells 61,905 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Eric Vishria sold 61,905 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $30.57, for a total transaction of $1,892,435.85. Following the completion of the transaction, the director directly owned 663,637 shares in the company, valued at approximately $20,287,383.09. This represents a 8.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, December 10th, Eric Vishria sold 15,476 shares of Confluent stock. The stock was sold at an average price of $30.00, for a total transaction of $464,280.00.
• On Monday, December 8th, Eric Vishria sold 15,476 shares of Confluent stock. The shares were sold at an average price of $29.84, for a total value of $461,803.84.

Confluent Stock Down 0.1%

Shares of CFLT traded down $0.04 during midday trading on Wednesday, reaching $30.66. 6,776,448 shares of the company were exchanged, compared to its average volume of 18,098,496. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $34.81. The stock has a 50-day moving average price of $30.34 and a 200-day moving average price of $24.29. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.94. The company has a market cap of $10.73 billion, a price-to-earnings ratio of -35.65 and a beta of 0.95.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The company’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. Research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Confluent

Large investors have recently modified their holdings of the stock. Bank of Montreal Can raised its position in shares of Confluent by 28.5% during the 2nd quarter. Bank of Montreal Can now owns 261,007 shares of the company’s stock valued at $6,507,000 after acquiring an additional 57,928 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Confluent by 655.7% in the second quarter. Hsbc Holdings PLC now owns 243,596 shares of the company’s stock worth $6,013,000 after purchasing an additional 211,360 shares during the period. Coronation Fund Managers Ltd. bought a new stake in Confluent during the second quarter valued at $10,250,000. Persistent Asset Partners Ltd acquired a new stake in shares of Confluent during the second quarter worth $499,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Confluent during the second quarter worth $305,000. Institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the subject of several analyst reports. Barclays upped their target price on shares of Confluent from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Oppenheimer lowered shares of Confluent from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. TD Cowen reissued a “hold” rating on shares of Confluent in a research report on Tuesday, October 28th. New Street Research set a $29.00 target price on Confluent in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group lifted their target price on Confluent from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $28.71.

About Confluent

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.