Nvidia Director Sells $44.3 Million in Shares as Stock Rises 5%
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
- Insider Selling: Nvidia Director Harvey Jones sold 250,000 shares at an average price of $177.33 for a total of $44.3 million, which, despite the stock rising over 5% in the past three months, may raise concerns about the company's outlook among investors.
- Departure-Driven Sale: Lululemon Officer Celeste Burgoyne sold 13,500 shares at an average price of $204.00 for a total of $2.8 million before her departure at the end of the month, and although shares are up 22% over the last three months, insider selling is often viewed negatively.
- Large Transactions: Las Vegas Sands Departing CEO Robert Goldstein sold a total of 1,997,700 shares at an average price of ~$66.74 for $133.3 million, and while the stock has risen 25% in the last three months, such large sell-offs can undermine investor confidence.
- Additional Sales: Roivant Sciences Investor Vivek Ramaswamy sold 3,103,700 shares at an average price of $21.89 for a total of $67.9 million, and despite the stock's impressive 52% increase over the past three months, insider selling may lead to market skepticism regarding future growth.
Analyst Views on CFLT
Wall Street analysts forecast CFLT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CFLT is 27.68 USD with a low forecast of 24.00 USD and a high forecast of 31.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
26 Analyst Rating
19 Buy
6 Hold
1 Sell
Moderate Buy
Current: 30.530
Low
24.00
Averages
27.68
High
31.00
Current: 30.530
Low
24.00
Averages
27.68
High
31.00
About CFLT
Confluent, Inc. provides a data streaming platform that enables customers to connect their applications, systems, and data layers and can be deployed as a fully-managed cloud-native software-as-a-service (SaaS) offering, Confluent Cloud, as a self-managed software offering, Confluent Platform, or as a Bring Your Own Cloud (BYOC) managed service offering where the raw data resides inside a customer’s own cloud environment, WarpStream. The Company also offers professional services and educational services. The Company is focused on developing a category of data infrastructure focused on data in motion for developers and enterprises. Its cloud-native offering works across multi-cloud and hybrid infrastructures and supports a variety of deployment models to support diverse customer requirements, delivering massive scalability, elasticity, security, and global interconnectedness, enabling agile development. WarpStream offers a lower-cost option for relaxed latency use cases for customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
