Confluent director Chadwick sells over $1 million in stock

MOUNTAIN VIEW, CA—Chadwick Jonathan, a director at Confluent , Inc. (NASDAQ:CFLT), has recently sold a significant portion of his holdings in the company, according to a recent SEC filing. The transaction, dated February 25, 2025, involved the sale of 34,375 shares of Class A Common Stock at an average price of $30.57 per share, totaling approximately $1,050,843. The sale comes as the stock has shown strong momentum, gaining over 50% in the past six months, according to InvestingPro data.

This sale was executed under a 10b5-1 trading plan adopted on September 9, 2024, allowing for the pre-planned sale of shares. Following this transaction, Chadwick’s direct ownership of Confluent shares decreased to 22,688 shares.

In addition to the sale, the filing also noted a conversion of 34,375 shares of Class B Common Stock into Class A Common Stock, though this did not involve any cash transaction. The conversion was executed at a price of $0 per share, as per the company’s amended and restated certificate of incorporation.

Confluent, Inc., headquartered in Mountain View, California, is a leading provider of prepackaged software services. The company continues to focus on expanding its offerings in the technology sector, demonstrating robust revenue growth of 24% year-over-year. Analysts maintain a bullish outlook, with price targets ranging from $30 to $42 per share. Get comprehensive insights and access to detailed financial analysis through InvestingPro’s exclusive research reports.

In other recent news, Confluent Inc has seen several analysts adjust their outlooks based on the company’s financial performance and strategic initiatives. UBS upgraded Confluent’s stock rating from Neutral to Buy, raising the price target from $34 to $38, reflecting a positive view on future revenue growth, particularly in subscription revenues. Citi analysts also increased their price target from $33 to $37, acknowledging Confluent’s solid fourth-quarter cloud revenue performance, though they maintained a Neutral rating due to potential risks from recent executive changes. TD Cowen analysts raised their price target from $37 to $41, maintaining a Buy rating, noting strong subscription revenue growth and successful partnerships, including with Databricks.

RBC Capital Markets followed suit by increasing their price target to $41 from $36 and reiterated an Outperform rating, highlighting Confluent’s success in expanding its customer base and strategic partnerships. DA Davidson went further, lifting their price target to $42 from $34, while keeping a Buy rating, driven by robust Cloud Revenue growth and an optimistic outlook for continued market leadership. Confluent’s fiscal year 2025 guidance indicates subscription revenue growth of 21-22%, aligning with analyst expectations. These developments underscore confidence among analysts in Confluent’s strategic positioning and potential for sustained growth in the data streaming market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.