Kong Phan Sells 760 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 760 shares of Confluent stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $32.00, for a total transaction of $24,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 249,691 shares in the company, valued at approximately $7,990,112. This trade represents a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction 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 transaction of $68,781.24.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The shares were sold at an average price of $36.22, for a total transaction of $229,852.12.
• 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 transaction 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 transaction of $389,998.00.

Confluent Price Performance

NASDAQ:CFLT opened at $31.74 on Monday. The stock has a market cap of $10.60 billion, a P/E ratio of -29.39 and a beta of 0.92. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The company has a fifty day moving average price of $29.96 and a 200 day moving average price of $26.40. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last released its 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 net margin of 35.81% and a negative return on equity of 34.70%. Analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research report on Wednesday, February 12th. Scotiabank boosted their price objective on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Mizuho boosted their price objective on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Piper Sandler lifted their target price on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note 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 company a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and an average price target of $35.15.

Hedge Funds Weigh In On Confluent

Several large investors have recently bought and sold shares of CFLT. Vanguard Group Inc. increased 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 valued at $694,207,000 after buying an additional 599,582 shares during the period. Champlain Investment Partners LLC increased its holdings in Confluent by 1.3% in the 4th quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company’s stock valued at $302,940,000 after buying an additional 133,908 shares during the period. Geode Capital Management LLC increased its holdings in Confluent by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock valued at $123,339,000 after buying an additional 84,163 shares during the period. Jericho Capital Asset Management L.P. increased its holdings in Confluent by 18.1% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company’s stock valued at $83,880,000 after buying an additional 459,000 shares during the period. Finally, Norges Bank bought a new stake in Confluent in the 4th quarter valued at $81,092,000. 78.09% of the stock is currently 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.