Stock Traders Purchase High Volume of Call Options on Confluent (NASDAQ:CFLT)

Confluent, Inc. (NASDAQ:CFLT) saw unusually large options trading on Wednesday. Stock traders purchased 11,965 call options on the stock. This represents an increase of approximately 80% compared to the average daily volume of 6,663 call options.

Insider Transactions at Confluent

In other news, CAO Ying Christina Liu sold 4,109 shares of Confluent stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $132,104.35. Following the transaction, the chief accounting officer now owns 123,497 shares of the company’s stock, valued at $3,970,428.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Confluent news, CTO Chad Verbowski sold 5,963 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $191,710.45. Following the sale, the chief technology officer now directly owns 404,412 shares in the company, valued at approximately $13,001,845.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ying Christina Liu sold 4,109 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the sale, the chief accounting officer now owns 123,497 shares of the company’s stock, valued at approximately $3,970,428.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,433,170 shares of company stock worth $46,438,029. 13.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Confluent

Institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new stake in shares of Confluent in the 1st quarter valued at approximately $26,000. Rakuten Securities Inc. acquired a new stake in Confluent in the fourth quarter worth $31,000. Quest Partners LLC bought a new position in shares of Confluent during the fourth quarter worth $31,000. GAMMA Investing LLC acquired a new position in shares of Confluent in the 4th quarter valued at $35,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Confluent in the 3rd quarter valued at $36,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. JMP Securities raised their target price on Confluent from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Barclays lifted their target price on shares of Confluent from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group raised shares of Confluent from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Confluent in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on Confluent from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.77.

Confluent Stock Performance

Shares of Confluent stock opened at $31.38 on Thursday. The firm has a fifty day moving average of $30.23 and a two-hundred day moving average of $26.24. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.62 and a current ratio of 4.62. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of -20.60 and a beta of 0.93. Confluent has a 52 week low of $14.69 and a 52 week high of $41.22.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The company had revenue of $213.18 million during the quarter, compared to the consensus estimate of $204.62 million. As a group, equities research analysts predict that Confluent will post -0.92 EPS for the current year.

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.