Confluent, Inc. (NASDAQ:CFLT – Get Rating) major shareholder Ventures Vii (Jersey) L. Index sold 4,797 shares of the company’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $18.28, for a total value of $87,689.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
NASDAQ CFLT traded up $0.41 during mid-day trading on Friday, hitting $18.91. The stock had a trading volume of 5,131,861 shares, compared to its average volume of 3,374,804. The firm’s 50 day moving average is $33.80 and its 200 day moving average is $54.31. Confluent, Inc. has a twelve month low of $17.15 and a twelve month high of $94.97. The company has a debt-to-equity ratio of 1.27, a current ratio of 6.39 and a quick ratio of 6.39. The stock has a market capitalization of $5.26 billion and a price-to-earnings ratio of -9.49.
Confluent (NASDAQ:CFLT – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.23. Confluent had a negative return on equity of 41.55% and a negative net margin of 94.12%. The firm had revenue of $126.10 million during the quarter, compared to the consensus estimate of $118.49 million. During the same period in the prior year, the company earned ($0.29) EPS. The firm’s revenue was up 63.8% compared to the same quarter last year. As a group, equities research analysts expect that Confluent, Inc. will post -1.6 earnings per share for the current year.
CFLT has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on Confluent from $75.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, April 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Confluent from $63.00 to $28.00 in a research report on Friday, May 6th. Barclays lowered their price objective on Confluent from $71.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 19th. Credit Suisse Group lowered their price objective on Confluent from $100.00 to $80.00 in a research report on Friday, May 6th. Finally, Zacks Investment Research lowered Confluent from a “buy” rating to a “sell” rating in a research report on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Confluent currently has an average rating of “Hold” and an average price target of $57.40.
About Confluent (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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