Chad Verbowski Sells 13,414 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CTO Chad Verbowski sold 13,414 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $378,677.22. Following the completion of the transaction, the chief technology officer now directly owns 483,393 shares of the company’s stock, valued at approximately $13,646,184.39. This trade represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Confluent Stock Performance

Shares of NASDAQ:CFLT opened at $31.52 on Monday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The company has a market cap of $10.34 billion, a price-to-earnings ratio of -28.40 and a beta of 0.82. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The company has a 50-day moving average price of $23.35 and a 200-day moving average price of $24.57.

Confluent (NASDAQ:CFLT) last released 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. The business had revenue of $250.20 million during 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, equities analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current year.

Institutional Trading of Confluent

Several large investors have recently added to or reduced their stakes in CFLT. Diversified Trust Co lifted its position in shares of Confluent by 110.3% in the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after purchasing an additional 31,729 shares during the period. Sycomore Asset Management raised its stake in Confluent by 308.3% in the second quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock worth $9,176,000 after buying an additional 251,507 shares in the last quarter. Pathway Capital Management LP purchased a new stake in Confluent in the third quarter worth about $918,000. Sei Investments Co. boosted its position in Confluent by 29.1% during the 2nd quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock valued at $9,022,000 after acquiring an additional 68,880 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Confluent by 109.9% during the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after acquiring an additional 49,699 shares during the period. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the topic of several recent research reports. Citigroup increased their target price on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. UBS Group boosted their price objective on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Scotiabank increased their target price on shares of Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their price objective on Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Confluent has an average rating of “Moderate Buy” and an average price target of $30.88.

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.