Confluent, Inc. (NASDAQ:CFLT) CAO Sells $59,170.08 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 2,096 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $59,170.08. Following the completion of the sale, the chief accounting officer now owns 190,680 shares of the company’s stock, valued at $5,382,896.40. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Kong Phan also recently made the following trade(s):

• On Friday, September 20th, Kong Phan sold 190 shares of Confluent stock. The stock was sold at an average price of $20.12, for a total transaction of $3,822.80.

Confluent Price Performance

Confluent stock opened at $31.52 on Friday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The firm has a 50 day moving average price of $23.35 and a 200 day moving average price of $24.64.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, sell-side analysts forecast that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Confluent

A number of large investors have recently modified their holdings of the company. EP Wealth Advisors LLC increased its position in Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after purchasing an additional 503 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Confluent by 8.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after acquiring an additional 857 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares during the period. Fulton Bank N.A. lifted its holdings in shares of Confluent by 15.0% during the 2nd quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock valued at $241,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Confluent by 9.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock worth $374,000 after purchasing an additional 1,113 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wolfe Research upgraded Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Scotiabank upped their price objective on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Sanford C. Bernstein cut their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. DA Davidson reissued a “buy” rating and set a $30.00 price objective on shares of Confluent in a report on Wednesday, September 18th. Finally, Citigroup upped their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Confluent has a consensus rating of “Moderate Buy” and an average target price of $30.88.

About Confluent

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.