Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 1,084,259 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 1,084,259 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total value of $31,335,085.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The shares were sold at an average price of $27.51, for a total value of $29,359,827.42.

Confluent Stock Down 5.1 %

CFLT traded down $1.46 on Friday, reaching $27.07. The company’s stock had a trading volume of 3,941,810 shares, compared to its average volume of 4,374,944. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of -25.70 and a beta of 0.82. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The stock has a 50 day moving average of $22.24 and a two-hundred day moving average of $24.62. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17.

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

Institutional Trading of Confluent

Hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Confluent during the 2nd quarter valued at approximately $68,000. UniSuper Management Pty Ltd boosted its position in Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after buying an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Confluent during the third quarter worth about $68,000. Finally, Lazard Asset Management LLC raised its holdings in Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CFLT shares. Sanford C. Bernstein decreased their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada upped their target price on Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. UBS Group raised their price objective on Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen increased their price objective on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised their target price on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.88.

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.