Confluent, Inc. (NASDAQ:CFLT) CAO Sells $85,280.50 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,175 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50. Following the completion of the sale, the chief accounting officer now owns 246,516 shares of the company’s stock, valued at $6,621,419.76. This trade represents a 1.27 % 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 Wednesday, February 26th, Kong Phan sold 760 shares of Confluent stock. The shares were 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 stock was 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 shares were 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 stock was sold at an average price of $36.22, for a total value of $229,852.12.

Confluent Trading Down 1.5 %

Shares of CFLT opened at $26.89 on Wednesday. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The stock’s 50-day moving average is $29.46 and its two-hundred day moving average is $27.13. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The stock has a market cap of $8.98 billion, a PE ratio of -24.90 and a beta of 0.90.

Confluent (NASDAQ:CFLT) last released its quarterly 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%. Equities analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Confluent

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Confluent by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock worth $694,207,000 after buying an additional 599,582 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Confluent by 1.3% in the fourth quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company’s stock worth $302,940,000 after acquiring an additional 133,908 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Confluent by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock valued at $123,339,000 after purchasing an additional 84,163 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in Confluent by 18.1% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company’s stock valued at $83,880,000 after purchasing an additional 459,000 shares during the last quarter. Finally, Norges Bank purchased a new stake in Confluent during the 4th quarter worth approximately $81,092,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CFLT shares. Scotiabank increased their price target on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Loop Capital reduced their price target on shares of Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Royal Bank of Canada upped their price target on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Truist Financial lifted their price objective on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Evercore ISI upped their target price on Confluent from $32.00 to $40.00 and gave the company an “outperform” 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.