Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan Sells 6,346 Shares

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 6,346 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.22, for a total value of $229,852.12. Following the transaction, the chief accounting officer now owns 179,593 shares in the company, valued at approximately $6,504,858.46. This represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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.
• 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.

Confluent Stock Performance

CFLT stock opened at $34.94 on Wednesday. The stock has a market capitalization of $11.46 billion, a PE ratio of -31.48 and a beta of 0.92. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock’s 50 day simple moving average is $29.79 and its 200 day simple moving average is $25.74.

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 net margin of 38.35% and a negative return on equity of 34.05%. As a group, research analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CFLT has been the topic of several research reports. Sanford C. Bernstein cut their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. UBS Group lifted their price objective on Confluent from $26.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Evercore ISI lifted their price objective on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Guggenheim lifted their price objective on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Institutional Investors Weigh In On Confluent

A number of hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management purchased a new stake in Confluent during the 4th quarter valued at $2,088,000. Vident Advisory LLC purchased a new stake in Confluent during the 4th quarter valued at $972,000. Tairen Capital Ltd raised its stake in Confluent by 45.6% during the 4th quarter. Tairen Capital Ltd now owns 72,798 shares of the company’s stock valued at $2,035,000 after buying an additional 22,798 shares during the last quarter. Shay Capital LLC purchased a new stake in Confluent during the 4th quarter valued at $419,000. Finally, Royal Bank of Canada raised its stake in Confluent by 86.3% during the 4th quarter. Royal Bank of Canada now owns 498,413 shares of the company’s stock valued at $13,936,000 after buying an additional 230,943 shares during the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Company Profile

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.