Rohan Sivaram Sells 23,605 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 23,605 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.58, for a total transaction of $745,445.90. Following the transaction, the chief financial officer now owns 497,806 shares in the company, valued at $15,720,713.48. The trade was a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 Trading Up 2.9 %

Shares of CFLT stock opened at $31.69 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock has a market capitalization of $10.39 billion, a P/E ratio of -29.34 and a beta of 0.92. The company has a 50 day moving average price of $29.93 and a 200 day moving average price of $26.24. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Credit Industriel ET Commercial acquired a new position in Confluent during the 4th quarter worth approximately $28,000. Blue Trust Inc. grew its holdings in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Confluent during the 4th quarter worth approximately $59,000. Point72 Hong Kong Ltd acquired a new position in Confluent during the 3rd quarter worth approximately $68,000. Finally, GAMMA Investing LLC grew its holdings in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after acquiring an additional 1,136 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CFLT shares. Bank of America boosted their price target on shares of Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 12th. TD Cowen boosted their price target 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. Truist Financial boosted their price target on shares of Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price target on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group lifted their target price on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and a consensus price target of $35.15.

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.