Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CFO Sells 22,714 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 22,714 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $641,216.22. Following the transaction, the chief financial officer now owns 532,623 shares of the company’s stock, valued at approximately $15,035,947.29. This represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Confluent Price Performance

Shares of NASDAQ:CFLT traded up $0.91 during trading on Friday, hitting $31.52. 5,460,246 shares of the stock were exchanged, compared to its average volume of 4,379,470. The company has a market cap of $10.34 billion, a PE ratio of -27.55 and a beta of 0.82. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The company has a fifty day moving average price of $23.12 and a two-hundred day moving average price of $24.62. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $35.07.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CFLT shares. TD Cowen raised their price objective on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird lifted their price target on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Truist Financial reissued a “buy” rating and issued a $30.00 target price (down previously from $36.00) on shares of Confluent in a report on Thursday, August 1st. Canaccord Genuity Group decreased their price target on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Stifel Nicolaus dropped their price objective on Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Institutional Trading of Confluent

Institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in Confluent during the second quarter worth approximately $68,000. Point72 Hong Kong Ltd purchased a new position in shares of Confluent during the 3rd quarter worth $68,000. UniSuper Management Pty Ltd lifted its stake in shares of Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after purchasing an additional 1,500 shares during the period. Advisors Asset Management Inc. lifted its position in Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after buying an additional 859 shares during the period. Finally, Lazard Asset Management LLC increased its position in Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares during the last quarter. 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.