Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps Sells 232,500 Shares

Confluent, Inc. (NASDAQ:CFLTGet Free Report) CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $26.17, for a total value of $6,084,525.00. Following the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $11,841,610.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Confluent Price Performance

Shares of CFLT stock traded down $0.16 during mid-day trading on Friday, hitting $25.78. 2,724,948 shares of the stock were exchanged, compared to its average volume of 4,581,350. Confluent, Inc. has a 52-week low of $14.69 and a 52-week high of $41.22. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average of $29.08 and a 200 day moving average of $27.40. The company has a market cap of $8.19 billion, a PE ratio of -20.62 and a beta of 0.88.

Confluent (NASDAQ:CFLTGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.04). The company had revenue of $217.24 million for the quarter, compared to analyst estimates of $211.57 million. Confluent had a negative return on equity of 40.55% and a negative net margin of 46.73%. Research analysts anticipate that Confluent, Inc. will post -0.94 earnings per share for the current year.

Institutional Trading of Confluent

Hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management acquired a new stake in Confluent in the 1st quarter valued at about $26,000. Rakuten Securities Inc. purchased a new stake in shares of Confluent in the 4th quarter valued at approximately $31,000. Quest Partners LLC purchased a new stake in shares of Confluent in the 4th quarter valued at approximately $31,000. GAMMA Investing LLC purchased a new stake in shares of Confluent in the 4th quarter valued at approximately $35,000. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of Confluent in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays upped their price target on Confluent from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Confluent from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. TD Cowen boosted their price objective on shares of Confluent from $34.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. JMP Securities boosted their price objective on shares of Confluent from $38.00 to $40.00 and gave the company a “market outperform” rating in a report on Wednesday, May 8th. Finally, Stifel Nicolaus initiated coverage on shares of Confluent in a report on Wednesday, February 21st. They set a “buy” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.04.

View Our Latest Stock Analysis on CFLT

Confluent Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Confluent (NASDAQ:CFLT)

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