Confluent (NASDAQ:CFLT) Director Sells $1,892,435.85 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Eric Vishria sold 61,905 shares of Confluent stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $30.57, for a total value of $1,892,435.85. Following the sale, the director directly owned 663,637 shares in the company, valued at approximately $20,287,383.09. This trade represents a 8.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Eric Vishria also recently made the following trade(s):

• On Wednesday, December 10th, Eric Vishria sold 15,476 shares of Confluent stock. The shares were sold at an average price of $30.00, for a total value of $464,280.00.
• On Monday, December 8th, Eric Vishria sold 15,476 shares of Confluent stock. The stock was sold at an average price of $29.84, for a total value of $461,803.84.

Confluent Price Performance

Shares of CFLT opened at $30.70 on Friday. Confluent, Inc. has a one year low of $15.64 and a one year high of $33.00. The stock’s fifty day moving average is $30.37 and its 200-day moving average is $24.43. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of -35.70 and a beta of 0.95.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $314.82 million during the quarter, compared to the consensus estimate of $308.03 million. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. Equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on CFLT. Sanford C. Bernstein cut Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 target price on the stock. in a report on Friday, January 23rd. Wells Fargo & Company reiterated an “equal weight” rating and set a $31.00 price target on shares of Confluent in a research report on Monday, December 8th. Citizens Jmp downgraded Confluent from an “outperform” rating to a “market perform” rating in a research note on Friday, January 9th. William Blair lowered Confluent from an “outperform” rating to a “market perform” rating in a report on Monday, December 8th. Finally, Robert W. Baird lifted their target price on Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.71.

Institutional Trading of Confluent

Several large investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its position in shares of Confluent by 2,048.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,289,720 shares of the company’s stock worth $39,001,000 after purchasing an additional 1,229,696 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Confluent in the fourth quarter valued at approximately $513,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Confluent during the 4th quarter valued at $457,000. XTX Topco Ltd acquired a new stake in shares of Confluent in the 4th quarter valued at $2,501,000. Finally, Utah Retirement Systems boosted its holdings in Confluent by 4.7% in the fourth quarter. Utah Retirement Systems now owns 15,320 shares of the company’s stock worth $463,000 after purchasing an additional 688 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Company Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.