Kong Phan Sells 12,460 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 12,460 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.30, for a total value of $389,998.00. Following the transaction, the chief accounting officer now directly owns 183,886 shares of the company’s stock, valued at $5,755,631.80. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, November 20th, Kong Phan sold 2,096 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $59,170.08.
• On Friday, September 20th, Kong Phan sold 190 shares of Confluent stock. The shares were sold at an average price of $20.12, for a total transaction of $3,822.80.

Confluent Stock Down 0.4 %

NASDAQ CFLT opened at $31.34 on Wednesday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The business has a 50 day moving average price of $27.32 and a two-hundred day moving average price of $24.72. The stock has a market cap of $10.28 billion, a PE ratio of -28.23 and a beta of 0.88.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CFLT. DA Davidson reissued a “buy” rating and issued a $30.00 price objective on shares of Confluent in a research report on Wednesday, September 18th. Truist Financial increased their price target on Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird lifted their price objective on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $40.00 target price on shares of Confluent in a research report on Tuesday, October 29th. Finally, Evercore ISI decreased their price target on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and an average target price of $32.04.

Institutional Trading of Confluent

Large investors have recently modified their holdings of the business. Champlain Investment Partners LLC lifted its stake in shares of Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after acquiring an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Confluent by 28.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after purchasing an additional 1,684,100 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Confluent in the 2nd quarter valued at approximately $193,403,000. Geode Capital Management LLC boosted its stake in shares of Confluent by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after buying an additional 107,510 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Confluent by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after buying an additional 1,316,804 shares in the last quarter. 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.