Matthew Craig Miller Sells 157,890 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 157,890 shares of Confluent stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.88, for a total value of $5,191,423.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Matthew Craig Miller also recently made the following trade(s):

• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The shares were sold at an average price of $30.32, for a total transaction of $16,428,892.00.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The shares were sold at an average price of $28.90, for a total value of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The shares were sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Stock Performance

CFLT opened at $31.29 on Wednesday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The business’s 50 day moving average is $23.58 and its 200-day moving average is $24.58. The stock has a market cap of $10.26 billion, a PE ratio of -28.19 and a beta of 0.82. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The company had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. On average, analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CFLT. Robert W. Baird lifted their price target on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced their price objective on Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Bank of America decreased their price objective on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $31.00 price target on shares of Confluent in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently made changes to their positions in CFLT. UniSuper Management Pty Ltd increased its stake in shares of Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after acquiring an additional 1,500 shares during the period. Advisors Asset Management Inc. boosted its stake in Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Confluent by 24.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,157,231 shares of the company’s stock valued at $35,319,000 after purchasing an additional 228,429 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in shares of Confluent in the 1st quarter worth $4,376,000. 78.09% of the stock is currently owned by institutional investors.

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.