Confluent, Inc. (NASDAQ:CFLT) CAO Sells $68,781.24 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 2,178 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $68,781.24. Following the sale, the chief accounting officer now owns 177,415 shares of the company’s stock, valued at approximately $5,602,765.70. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The stock was sold at an average price of $30.75, for a total value of $93,480.00.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The stock was sold at an average price of $36.22, for a total value of $229,852.12.
• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The shares were sold at an average price of $28.74, for a total value of $113,436.78.
• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The shares were sold at an average price of $31.30, for a total value of $389,998.00.

Confluent Stock Down 2.1 %

CFLT stock opened at $30.44 on Wednesday. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The business has a 50 day moving average price of $29.84 and a two-hundred day moving average price of $26.17. The company has a market cap of $9.98 billion, a price-to-earnings ratio of -28.19 and a beta of 0.92. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CFLT shares. Evercore ISI upped their price objective on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. TD Cowen upped their price objective on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Canaccord Genuity Group upped their price objective on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Needham & Company LLC upped their price objective on Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CFLT. Champlain Investment Partners LLC boosted its stake in shares of Confluent by 72.2% during the 3rd 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 during the period. Norges Bank bought a new position in shares of Confluent during the 4th quarter worth approximately $81,092,000. Pictet Asset Management Holding SA lifted its holdings in Confluent by 7,342.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock worth $65,748,000 after purchasing an additional 2,319,919 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Confluent during the 4th quarter worth approximately $64,658,000. Finally, Fiera Capital Corp acquired a new stake in Confluent during the 3rd quarter worth approximately $21,127,000. 78.09% of the stock is currently owned by institutional investors.

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.