Confluent director Vishria sells $464,280 in stock

Eric Vishria, a director at Confluent , Inc. (NASDAQ:CFLT), recently sold 15,476 shares of Class A Common Stock, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at a price of $30 each, totaling $464,280. This transaction was executed under a 10b5-1 trading plan that Vishria adopted earlier this year in February. Following the sale, Vishria holds 1,278,210 shares indirectly through entities he controls and an additional 12,559 shares directly.

In other recent news, Confluent Inc (NASDAQ:). has reported significant growth in their Q3 2024 earnings, with subscription revenue increasing by 27% to $240 million and total revenue rising by 25% to $250 million. The company's cloud revenue, in particular, experienced a surge of 42%, reaching $130 million and accounting for over half of the total revenue. Additionally, Confluent now serves all top 10 U.S. banks, with an average annual recurring revenue exceeding $5 million. Record gross margins were also reported, with subscription gross margin at 82.2% and free cash flow margin at 3.7%.

In other recent developments, the company's Chief Technology Officer, Chad Verbowski, has announced his retirement but will continue to serve as an advisor until February 2025. During this transition period, the engineering organization will report directly to the CEO. Confluent is currently seeking a replacement for the CTO position, but no successor or timeline for the appointment has been announced yet.

Looking ahead, Confluent projects its Q4 2024 subscription revenue to be between $245 million and $246 million, and full-year subscription revenue to range from $916.5 million to $917.5 million, reflecting a 26% growth. These developments underscore Confluent's strong position in the data streaming market and its focus on efficient growth and profitability.

InvestingPro Insights

To provide additional context to Eric Vishria's recent stock sale, let's examine some key financial metrics and insights from InvestingPro for Confluent, Inc. (NASDAQ:CFLT).

As of the latest data, Confluent boasts a market capitalization of $8.91 billion. The company's revenue for the last twelve months as of Q3 2024 stood at $915.61 million, with a robust revenue growth of 25.01% over the same period. This strong top-line performance aligns with the company's position in the fast-growing data streaming market.

Despite the impressive revenue growth, it's worth noting that Confluent is not yet profitable. An InvestingPro Tip highlights that the company has not been profitable over the last twelve months. However, analysts are optimistic about the company's future, with another InvestingPro Tip indicating that analysts predict Confluent will be profitable this year.

The stock's recent performance has been particularly strong, with a 22.21% price return over the past month and a 23.1% return over the last three months. This positive momentum could be attributed to investor confidence in Confluent's growth prospects and market position.

It's important to note that Confluent's financial structure appears solid, with an InvestingPro Tip revealing that the company holds more cash than debt on its balance sheet. This financial flexibility could be crucial for supporting future growth initiatives and weathering potential market uncertainties.

For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Confluent, providing a deeper understanding of the company's financial health and market position.

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