Confluent, Inc. (NASDAQ:CFLT) Director Sells $12,622,712.32 in Stock

by · The Markets Daily

Confluent, Inc. (NASDAQ:CFLT – Get Free Report) Director Michelangelo Volpi sold 477,952 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $26.41, for a total transaction of $12,622,712.32. Following the sale, the director now directly owns 317,079 shares in the company, valued at $8,374,056.39. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Michelangelo Volpi also recently made the following trade(s):

  • On Friday, November 1st, Michelangelo Volpi sold 50,000 shares of Confluent stock. The stock was sold at an average price of $25.92, for a total transaction of $1,296,000.00.

Confluent Trading Up 1.6 %

Confluent stock traded up $0.43 during mid-day trading on Thursday, hitting $27.56. 5,657,669 shares of the stock were exchanged, compared to its average volume of 4,365,478. 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, Inc. has a 12 month low of $16.69 and a 12 month high of $35.07. The firm’s fifty day simple moving average is $21.38 and its two-hundred day simple moving average is $24.63.

Confluent (NASDAQ:CFLT – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. As a group, equities analysts predict that Confluent, Inc. will post -0.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Confluent by 1.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 366,116 shares of the company’s stock worth $11,174,000 after buying an additional 5,362 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Confluent by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock valued at $369,000 after buying an additional 800 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Confluent during the first quarter worth about $362,000. Quantbot Technologies LP boosted its position in Confluent by 398.8% during the first quarter. Quantbot Technologies LP now owns 59,702 shares of the company’s stock worth $1,822,000 after purchasing an additional 47,732 shares during the period. Finally, Regents of The University of California purchased a new stake in shares of Confluent in the first quarter worth about $842,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CFLT shares. Robert W. Baird increased their price objective on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. UBS Group increased their price objective on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays increased their price objective on shares of Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler dropped their price objective on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Citigroup increased their price objective on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.74.

Get Our Latest Stock Analysis on Confluent

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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