Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CFO Sells 23,605 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 23,605 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.58, for a total transaction of $745,445.90. Following the completion of the sale, the chief financial officer now owns 497,806 shares of the company’s stock, valued at $15,720,713.48. This trade represents a 4.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rohan Sivaram also recently made the following trade(s):

• On Thursday, February 13th, Rohan Sivaram sold 68,350 shares of Confluent stock. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50.

Confluent Price Performance

Confluent stock opened at $30.44 on Wednesday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The firm has a 50 day moving average price of $29.84 and a 200 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. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (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%. Sell-side analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Confluent

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Confluent by 2.5% during the fourth 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 during the period. Champlain Investment Partners LLC grew its stake in Confluent by 1.3% during the fourth quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company’s stock worth $302,940,000 after buying an additional 133,908 shares during the period. Geode Capital Management LLC grew its stake in Confluent by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock worth $123,339,000 after buying an additional 84,163 shares during the period. Jericho Capital Asset Management L.P. grew its stake in Confluent by 18.1% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company’s stock worth $83,880,000 after buying an additional 459,000 shares during the period. Finally, Norges Bank purchased a new stake in Confluent during the fourth quarter worth approximately $81,092,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CFLT. TD Cowen lifted their target price on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Citigroup lifted their target price on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Needham & Company LLC lifted their target price on shares of Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus lifted their target price on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Mizuho lifted their target price on shares of Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

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.