Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 3,175 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,175 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $26.86, for a total value of $85,280.50. Following the transaction, the chief accounting officer now owns 246,516 shares in the company, valued at $6,621,419.76. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, February 26th, Kong Phan sold 760 shares of Confluent stock. The stock was sold at an average price of $32.00, for a total transaction of $24,320.00.
• On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The shares were sold at an average price of $30.75, for a total value of $93,480.00.
• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value of $68,781.24.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The shares were sold at an average price of $36.22, for a total value of $229,852.12.

Confluent Stock Performance

Shares of CFLT stock opened at $27.30 on Tuesday. The stock has a market capitalization of $9.12 billion, a PE ratio of -25.28 and a beta of 0.90. The business’s 50 day simple moving average is $29.47 and its 200 day simple moving average is $27.08. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. As a group, research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Trading of Confluent

A number of institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC lifted its stake in shares of Confluent by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock valued at $301,000 after purchasing an additional 328 shares during the period. Commonwealth Equity Services LLC lifted its stake in Confluent by 4.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after buying an additional 458 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 503 shares in the last quarter. Truist Financial Corp grew its position in shares of Confluent by 2.5% during the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock worth $589,000 after buying an additional 514 shares during the period. Finally, Jasper Ridge Partners L.P. increased its stake in shares of Confluent by 4.8% in the 4th quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company’s stock valued at $403,000 after acquiring an additional 664 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CFLT shares. Evercore ISI boosted their price target on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group upped their price target on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price target on shares of Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada boosted their price objective on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their target price on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

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.