Confluent, Inc. (NASDAQ:CFLT) CFO Sells $2,476,320.50 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares in the company, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, November 20th, Rohan Sivaram sold 22,714 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $641,216.22.

Confluent Trading Down 2.1 %

Shares of NASDAQ:CFLT opened at $32.54 on Friday. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The company has a market capitalization of $10.67 billion, a PE ratio of -30.13 and a beta of 0.92. The business has a 50 day moving average of $29.85 and a two-hundred day moving average of $25.84. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) 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 35.45%. As a group, analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Needham & Company LLC lifted their target price on Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays boosted their price target on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada boosted their price target on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Bank of America boosted their price target on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Credit Industriel ET Commercial acquired a new position in shares of Confluent during the 4th quarter worth approximately $28,000. Blue Trust Inc. raised its stake in shares of 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 buying an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Confluent during the 4th quarter worth approximately $59,000. Point72 Hong Kong Ltd acquired a new position in shares of Confluent during the 3rd quarter worth approximately $68,000. Finally, GAMMA Investing LLC raised its stake in shares of 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 buying an additional 1,136 shares during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

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.