Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi Sells 25,000 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $25.00, for a total transaction of $625,000.00. Following the completion of the sale, the director now directly owns 267,079 shares in the company, valued at $6,676,975. This trade represents a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Confluent Stock Up 0.1%

Shares of NASDAQ:CFLT opened at $24.39 on Tuesday. The firm has a 50 day simple moving average of $21.97 and a 200-day simple moving average of $26.80. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $8.30 billion, a PE ratio of -22.58 and a beta of 0.98.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The firm had revenue of $271.12 million during the quarter, compared to analysts’ expectations of $264.45 million. During the same period in the previous year, the company earned $0.05 earnings per share. Confluent’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CFLT shares. Bank of America lifted their target price on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. TD Securities dropped their price objective on Confluent from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Evercore ISI cut their price objective on Confluent from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Guggenheim lowered their target price on Confluent from $38.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Confluent in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.11.

Institutional Trading of Confluent

Hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp boosted its position in shares of Confluent by 12.3% in the 4th quarter. M&T Bank Corp now owns 21,540 shares of the company’s stock valued at $602,000 after purchasing an additional 2,367 shares during the period. Victory Capital Management Inc. increased its position in Confluent by 135.7% during the fourth quarter. Victory Capital Management Inc. now owns 648,986 shares of the company’s stock worth $18,146,000 after buying an additional 373,682 shares during the period. Truist Financial Corp lifted its stake in Confluent by 2.5% in the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after buying an additional 514 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new stake in shares of Confluent in the fourth quarter valued at approximately $252,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Confluent by 5.2% in the fourth quarter. Janus Henderson Group PLC now owns 107,900 shares of the company’s stock valued at $3,017,000 after acquiring an additional 5,300 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.