Confluent, Inc. (NASDAQ:CFLT) Major Shareholder Acquires $2,004,810.00 in Stock

Confluent, Inc. (NASDAQ:CFLT – Get Rating) major shareholder Brad Gerstner purchased 51,000 shares of the stock in a transaction dated Wednesday, April 20th. The shares were acquired at an average cost of $39.31 per share, with a total value of $2,004,810.00. Following the acquisition, the insider now directly owns 5,929,583 shares in the company, valued at approximately $233,091,907.73. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Brad Gerstner also recently made the following trade(s):

• On Monday, April 18th, Brad Gerstner bought 82,683 shares of Confluent stock. The stock was purchased at an average cost of $37.53 per share, with a total value of $3,103,092.99.
• On Wednesday, April 13th, Brad Gerstner bought 25,000 shares of Confluent stock. The stock was purchased at an average cost of $40.45 per share, with a total value of $1,011,250.00.
• On Friday, April 8th, Brad Gerstner bought 135,000 shares of Confluent stock. The stock was purchased at an average cost of $38.58 per share, with a total value of $5,208,300.00.
• On Wednesday, April 6th, Brad Gerstner bought 104,200 shares of Confluent stock. The stock was purchased at an average cost of $39.22 per share, with a total value of $4,086,724.00.
• On Monday, March 21st, Brad Gerstner bought 175,000 shares of Confluent stock. The stock was purchased at an average cost of $38.33 per share, with a total value of $6,707,750.00.
• On Friday, March 18th, Brad Gerstner bought 140,000 shares of Confluent stock. The stock was purchased at an average cost of $36.35 per share, with a total value of $5,089,000.00.
• On Wednesday, March 16th, Brad Gerstner bought 61,700 shares of Confluent stock. The stock was purchased at an average cost of $32.43 per share, with a total value of $2,000,931.00.

NASDAQ:CFLT traded down $1.66 on Wednesday, hitting $38.12. The stock had a trading volume of 2,186,594 shares, compared to its average volume of 3,147,505. The business’s fifty day moving average is $41.60 and its 200 day moving average is $60.16. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 1.27. Confluent, Inc. has a 52 week low of $28.03 and a 52 week high of $94.97.

Confluent (NASDAQ:CFLT – Get Rating) last announced its quarterly earnings results on Thursday, February 10th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.02. The business had revenue of $119.90 million for the quarter, compared to analyst estimates of $109.80 million. Confluent had a negative return on equity of 51.90% and a negative net margin of 88.38%. The company’s quarterly revenue was up 70.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) earnings per share. As a group, research analysts forecast that Confluent, Inc. will post -1.57 EPS for the current fiscal year.

CFLT has been the topic of a number of analyst reports. Citigroup initiated coverage on Confluent in a research report on Tuesday, January 11th. They issued a “neutral” rating and a $80.00 price target on the stock. Wells Fargo & Company reduced their price target on Confluent from $75.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 15th. Barclays reduced their price target on Confluent from $71.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Zacks Investment Research upgraded Confluent from a “sell” rating to a “hold” rating in a research report on Thursday, March 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Confluent from $84.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, February 11th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.96.

Several institutional investors have recently modified their holdings of CFLT. Fifth Third Bancorp purchased a new stake in shares of Confluent in the fourth quarter worth approximately $29,000. Captrust Financial Advisors purchased a new stake in shares of Confluent in the third quarter worth approximately $30,000. Byrne Asset Management LLC purchased a new stake in shares of Confluent in the fourth quarter worth approximately $31,000. Regency Capital Management Inc. DE purchased a new stake in shares of Confluent in the third quarter worth approximately $39,000. Finally, HM Payson & Co. purchased a new stake in shares of Confluent in the fourth quarter worth approximately $46,000. 22.14% of the stock is owned by hedge funds and other institutional investors.

Confluent Company Profile (Get Rating)

Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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