Eric Vishria Sells 30,953 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Eric Vishria sold 30,953 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $21.93, for a total value of $678,799.29. Following the completion of the sale, the director now owns 1,169,876 shares of the company’s stock, valued at approximately $25,655,380.68. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Confluent Stock Up 4.0%

Shares of NASDAQ:CFLT opened at $21.89 on Friday. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a market capitalization of $7.45 billion, a PE ratio of -20.27 and a beta of 1.02. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The company has a fifty day moving average of $22.57 and a 200-day moving average of $27.23.

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

Institutional Trading of Confluent

Hedge funds and other institutional investors have recently made changes to their positions in the company. Focus Partners Wealth boosted its position in Confluent by 43.4% during the 1st quarter. Focus Partners Wealth now owns 409,461 shares of the company’s stock worth $9,598,000 after buying an additional 123,967 shares during the period. Bayforest Capital Ltd increased its position in Confluent by 184.9% in the 1st quarter. Bayforest Capital Ltd now owns 17,273 shares of the company’s stock valued at $405,000 after acquiring an additional 11,211 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Confluent by 3.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,204,129 shares of the company’s stock valued at $28,225,000 after acquiring an additional 43,050 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Confluent during the first quarter worth $332,000. Finally, Sciencast Management LP bought a new stake in shares of Confluent in the first quarter worth $552,000. 78.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CFLT. Piper Sandler lowered their price objective on Confluent from $40.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada boosted their price target on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Oppenheimer reduced their price objective on shares of Confluent from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Guggenheim decreased their target price on shares of Confluent from $38.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Barclays dropped their target price on shares of Confluent from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.11.

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.