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

Confluent, Inc. (NASDAQ:CFLTGet Free Report) CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $26.17, for a total value of $6,084,525.00. Following the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $11,841,610.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Confluent Trading Down 0.6 %

Confluent stock opened at $25.78 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22. The stock has a market capitalization of $8.19 billion, a PE ratio of -20.62 and a beta of 0.88. The business’s fifty day moving average is $29.08 and its 200 day moving average is $27.46.

Confluent (NASDAQ:CFLTGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. The business had revenue of $217.24 million for the quarter, compared to analysts’ expectations of $211.57 million. On average, sell-side analysts predict that Confluent, Inc. will post -0.94 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. DA Davidson restated a “buy” rating and set a $37.00 target price on shares of Confluent in a report on Monday, April 1st. Stifel Nicolaus assumed coverage on Confluent in a report on Wednesday, February 21st. They set a “buy” rating and a $40.00 target price for the company. Canaccord Genuity Group upgraded Confluent from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, May 8th. Guggenheim upped their target price on Confluent from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $40.00 target price on shares of Confluent in a report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Confluent has an average rating of “Moderate Buy” and an average price target of $33.04.

View Our Latest Stock Report on CFLT

Institutional Investors Weigh In On Confluent

Institutional investors have recently modified their holdings of the business. Hollencrest Capital Management purchased a new position in Confluent in the first quarter worth about $26,000. Rakuten Securities Inc. purchased a new position in Confluent in the fourth quarter worth about $31,000. Quest Partners LLC purchased a new position in Confluent in the fourth quarter worth about $31,000. GAMMA Investing LLC purchased a new position in Confluent in the fourth quarter worth about $35,000. Finally, UniSuper Management Pty Ltd purchased a new position in Confluent in the third quarter worth about $36,000. 78.09% of the stock is owned by hedge funds and other institutional investors.

About Confluent

(Get Free Report)

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.

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