Confluent, Inc. (NASDAQ:CFLT) Short Interest Update

Confluent, Inc. (NASDAQ:CFLT) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 15,950,000 shares, a decrease of 8.0% from the October 31st total of 17,330,000 shares. Based on an average trading volume of 4,140,000 shares, the short-interest ratio is currently 3.9 days. Currently, 6.5% of the shares of the company are short sold.

Confluent Stock Up 1.7 %

Shares of NASDAQ:CFLT traded up $0.53 during midday trading on Tuesday, reaching $31.53. The company’s stock had a trading volume of 2,067,086 shares, compared to its average volume of 4,366,976. Confluent has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a 50 day moving average price of $24.63 and a two-hundred day moving average price of $24.59.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results 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 firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, equities analysts forecast that Confluent will post -0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CFLT shares. Robert W. Baird raised their price target on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Baird R W upgraded Confluent to a “hold” rating in a research note on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Confluent in a research note on Tuesday, October 29th. Scotiabank upped their target price on Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein decreased their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Insider Activity at Confluent

In other news, CMO Stephanie Buscemi sold 164,123 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $26.24, for a total transaction of $4,306,587.52. Following the completion of the sale, the chief marketing officer now owns 149,644 shares in the company, valued at $3,926,658.56. The trade was a 52.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Erica Schultz sold 63,729 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $27.40, for a total value of $1,746,174.60. Following the transaction, the insider now owns 687,483 shares in the company, valued at approximately $18,837,034.20. This trade represents a 8.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,237,879 shares of company stock worth $118,823,850. Company insiders own 13.82% of the company’s stock.

Institutional Investors Weigh In On Confluent

A number of large investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of Confluent in the 2nd quarter worth $68,000. Point72 Hong Kong Ltd bought a new position in shares of Confluent in the third quarter valued at $68,000. Acadian Asset Management LLC bought a new position in shares of Confluent in the second quarter valued at $175,000. Plato Investment Management Ltd grew its holdings in shares of Confluent by 2,184.1% during the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after buying an additional 6,312 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Confluent during the third quarter worth about $214,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.