Edward Jay Kreps Sells 232,500 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $33.27, for a total value of $7,735,275.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Edward Jay Kreps also recently made the following trade(s):

• On Monday, August 14th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The stock was sold at an average price of $33.42, for a total value of $7,770,150.00.

Confluent Trading Down 0.9 %

Shares of Confluent stock opened at $32.30 on Friday. The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 1.43. The company’s fifty day simple moving average is $34.29 and its 200-day simple moving average is $29.15. Confluent, Inc. has a 1 year low of $16.60 and a 1 year high of $41.22. The company has a market cap of $9.77 billion, a price-to-earnings ratio of -19.58 and a beta of 0.99.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, August 2nd. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.01. Confluent had a negative net margin of 69.87% and a negative return on equity of 54.53%. The business had revenue of $189.29 million during the quarter, compared to analysts’ expectations of $182.18 million. As a group, sell-side analysts expect that Confluent, Inc. will post -1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CFLT. Bank of New York Mellon Corp raised its stake in shares of Confluent by 720.4% in the first quarter. Bank of New York Mellon Corp now owns 272,441 shares of the company’s stock valued at $11,170,000 after purchasing an additional 239,232 shares in the last quarter. Bank of Montreal Can increased its stake in Confluent by 3,176.6% in the first quarter. Bank of Montreal Can now owns 149,968 shares of the company’s stock valued at $6,215,000 after acquiring an additional 145,391 shares during the period. Great West Life Assurance Co. Can bought a new stake in Confluent in the first quarter valued at about $5,322,000. Dimensional Fund Advisors LP acquired a new stake in Confluent in the 1st quarter valued at $507,000. Finally, Blair William & Co. IL grew its position in Confluent by 13.1% in the first quarter. Blair William & Co. IL now owns 19,335 shares of the company’s stock valued at $793,000 after acquiring an additional 2,235 shares during the period. 59.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Piper Sandler lifted their price target on Confluent from $30.00 to $40.00 in a research note on Friday, June 9th. Truist Financial raised their price objective on shares of Confluent from $30.00 to $42.00 in a research note on Wednesday, June 14th. UBS Group increased their price objective on Confluent from $24.00 to $39.00 in a research note on Wednesday, June 14th. JPMorgan Chase & Co. increased their price objective on Confluent from $20.00 to $31.00 in a research note on Wednesday, June 14th. Finally, Barclays lifted their target price on shares of Confluent from $26.00 to $42.00 in a research note on Wednesday, June 14th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.90.

Confluent Company Profile

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