Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 53,512 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 53,512 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $33.64, for a total transaction of $1,800,143.68. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Matthew Craig Miller also recently made the following trade(s):

• On Monday, December 9th, Matthew Craig Miller sold 347,646 shares of Confluent stock. The stock was sold at an average price of $32.69, for a total transaction of $11,364,547.74.
• On Monday, November 25th, Matthew Craig Miller sold 157,890 shares of Confluent stock. The stock was sold at an average price of $32.88, for a total transaction of $5,191,423.20.
• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The shares were sold at an average price of $30.32, for a total transaction of $16,428,892.00.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The shares were sold at an average price of $28.90, for a total transaction of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The stock was sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Price Performance

Shares of NASDAQ:CFLT traded down $1.16 during trading on Tuesday, hitting $31.28. 4,745,457 shares of the company’s stock were exchanged, compared to its average volume of 4,358,160. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. The business’s 50-day simple moving average is $26.17 and its 200 day simple moving average is $24.63. The company has a market cap of $10.26 billion, a price-to-earnings ratio of -28.18 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The company had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. As a group, equities analysts predict that Confluent, Inc. will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Confluent in a research report on Friday, November 15th. TD Cowen boosted their target price on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their target price on Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird increased their target price on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Confluent in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.23.

Hedge Funds Weigh In On Confluent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Confluent in the 2nd quarter valued at approximately $68,000. Point72 Hong Kong Ltd bought a new stake in shares of Confluent in the 3rd quarter valued at approximately $68,000. Acadian Asset Management LLC bought a new stake in shares of Confluent in the 2nd quarter valued at approximately $175,000. Plato Investment Management Ltd lifted its stake in shares of Confluent by 2,184.1% in the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after purchasing an additional 6,312 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Confluent in the 3rd quarter valued at approximately $214,000. 78.09% of the stock is owned by institutional investors.

About Confluent

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.