Confluent, Inc. (NASDAQ:CFLT) CAO Sells $85,280.50 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,175 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $26.86, for a total value of $85,280.50. Following the transaction, the chief accounting officer now owns 246,516 shares in the company, valued at approximately $6,621,419.76. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, February 26th, Kong Phan sold 760 shares of Confluent stock. The shares were sold at an average price of $32.00, for a total transaction of $24,320.00.
• 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 value 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 value 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.

Confluent Price Performance

NASDAQ CFLT opened at $25.96 on Thursday. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The stock has a 50-day moving average of $29.43 and a 200 day moving average of $27.13. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of -24.04 and a beta of 0.90.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, sell-side analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CFLT shares. Scotiabank raised their target price on shares of Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Canaccord Genuity Group upped their target price on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Mizuho raised their target price on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Evercore ISI upped their price target on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Institutional Investors Weigh In On Confluent

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its holdings in shares of Confluent by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 223,043 shares of the company’s stock worth $6,236,000 after acquiring an additional 1,334 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Confluent by 36.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,763 shares of the company’s stock valued at $860,000 after purchasing an additional 8,204 shares during the period. Fluent Financial LLC purchased a new stake in shares of Confluent during the 4th quarter valued at about $606,000. Infinitum Asset Management LLC bought a new position in shares of Confluent in the 4th quarter worth approximately $10,485,000. Finally, Cache Advisors LLC purchased a new position in shares of Confluent in the fourth quarter worth approximately $1,322,000. 78.09% of the stock is currently owned by hedge funds and other 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.