Kong Phan Sells 3,947 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,947 shares of Confluent stock in a transaction on Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the transaction, the chief accounting officer now owns 179,939 shares in the company, valued at approximately $5,171,446.86. This trade represents a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The stock was sold at an average price of $31.30, for a total transaction 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 transaction of $59,170.08.

Confluent Trading Down 0.1 %

NASDAQ CFLT traded down $0.03 during mid-day trading on Monday, reaching $29.95. 2,320,023 shares of the stock were exchanged, compared to its average volume of 4,346,051. The stock has a market capitalization of $9.82 billion, a PE ratio of -26.98 and a beta of 0.88. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07. The business’s fifty day simple moving average is $27.77 and its 200 day simple moving average is $24.79.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, research analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CFLT shares. TD Cowen lifted their price target on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Evercore ISI cut their price target on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Stifel Nicolaus boosted their price objective on shares of Confluent from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, UBS Group increased their target price on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.23.

Institutional Trading of Confluent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent in the third quarter worth approximately $68,000. Acadian Asset Management LLC acquired a new position in Confluent during the second quarter worth approximately $175,000. Plato Investment Management Ltd raised its stake in Confluent by 2,184.1% during the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock worth $195,000 after purchasing an additional 6,312 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Confluent in the 3rd quarter valued at $214,000. Finally, Centaurus Financial Inc. grew its stake in shares of Confluent by 109.2% during the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after buying an additional 3,821 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

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.