Insider Selling: Confluent, Inc. (NASDAQ:CFLT) SVP Sells 7,668 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT - Get Rating) SVP Chad Verbowski sold 7,668 shares of the business's stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $23.11, for a total value of $177,207.48. Following the sale, the senior vice president now owns 330,723 shares of the company's stock, valued at $7,643,008.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Chad Verbowski also recently made the following trade(s):

On Tuesday, November 22nd, Chad Verbowski sold 9,441 shares of Confluent stock. The shares were sold at an average price of $20.11, for a total value of $189,858.51.

Confluent Stock Down 4.5 %

NASDAQ:CFLT traded down $1.05 during trading hours on Thursday, hitting $22.16. The company's stock had a trading volume of 1,937,125 shares, compared to its average volume of 2,945,788. The stock has a market capitalization of $6.35 billion, a P/E ratio of -13.24 and a beta of 1.06. The stock has a fifty day moving average of $23.02 and a 200-day moving average of $24.74. The company has a current ratio of 5.74, a quick ratio of 5.74 and a debt-to-equity ratio of 1.38. Confluent, Inc. has a 52-week low of $16.48 and a 52-week high of $81.11.

Confluent (NASDAQ:CFLT - Get Rating) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.40) EPS for the quarter, meeting the consensus estimate of ($0.40). The firm had revenue of $151.73 million for the quarter, compared to analyst estimates of $144.39 million. Confluent had a negative return on equity of 55.60% and a negative net margin of 85.83%. On average, equities analysts forecast that Confluent, Inc. will post -1.62 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on CFLT shares. Citigroup decreased their price target on Confluent from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 1st. Truist Financial started coverage on Confluent in a research note on Friday, September 30th. They set a "buy" rating and a $35.00 price target on the stock. Morgan Stanley decreased their price target on Confluent from $35.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Monday. JPMorgan Chase & Co. decreased their price target on Confluent from $30.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, November 3rd. Finally, DA Davidson decreased their price target on Confluent from $44.00 to $33.00 in a research note on Thursday, November 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Confluent presently has an average rating of "Moderate Buy" and an average price target of $34.93.

Hedge Funds Weigh In On Confluent

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Confluent by 96.6% during the first quarter. Vanguard Group Inc. now owns 5,063,242 shares of the company's stock worth $207,593,000 after purchasing an additional 2,488,471 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Confluent by 43.0% during the first quarter. JPMorgan Chase & Co. now owns 7,971,525 shares of the company's stock worth $326,833,000 after purchasing an additional 2,398,212 shares during the last quarter. Altimeter Capital Management LP grew its holdings in shares of Confluent by 79.9% during the first quarter. Altimeter Capital Management LP now owns 5,306,700 shares of the company's stock worth $217,575,000 after purchasing an additional 2,356,700 shares during the last quarter. State Street Corp grew its holdings in shares of Confluent by 461.2% during the second quarter. State Street Corp now owns 1,609,964 shares of the company's stock worth $37,416,000 after purchasing an additional 1,323,107 shares during the last quarter. Finally, 12 West Capital Management LP grew its holdings in shares of Confluent by 40.3% during the first quarter. 12 West Capital Management LP now owns 1,810,000 shares of the company's stock worth $74,210,000 after purchasing an additional 520,000 shares during the last quarter. Hedge funds and other institutional investors own 40.66% of the company's stock.

About Confluent

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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