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

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 68,350 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the sale, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

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

Confluent Stock Performance

CFLT stock opened at $33.23 on Thursday. The firm has a 50 day moving average of $29.83 and a two-hundred day moving average of $25.79. 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 $10.90 billion, a price-to-earnings ratio of -30.77 and a beta of 0.92. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data 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 return on equity of 35.45% and a negative net margin of 35.81%. As a group, equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

CFLT has been the topic of several recent research reports. Canaccord Genuity Group lifted their price target on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. TD Cowen upped their target price on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price target on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Barclays upped their price objective on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its position in Confluent by 109.9% during the third quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after purchasing an additional 49,699 shares during the period. Lake Street Advisors Group LLC raised its position in shares of Confluent by 14.0% in the third quarter. Lake Street Advisors Group LLC now owns 18,481 shares of the company’s stock valued at $377,000 after purchasing an additional 2,263 shares during the period. US Bancorp DE lifted its stake in shares of Confluent by 307.7% in the third quarter. US Bancorp DE now owns 16,702 shares of the company’s stock worth $340,000 after buying an additional 12,605 shares during the last quarter. Janney Capital Management LLC boosted its holdings in shares of Confluent by 52.2% during the 3rd quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock worth $406,000 after buying an additional 6,842 shares during the period. Finally, Fiera Capital Corp acquired a new position in Confluent in the 3rd quarter valued at $21,127,000. 78.09% of the stock is owned by institutional investors.

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.