Confluent, Inc. (NASDAQ:CFLT) CAO Sells $59,170.08 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 2,096 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $59,170.08. Following the transaction, the chief accounting officer now directly owns 190,680 shares of the company’s stock, valued at approximately $5,382,896.40. This represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, September 20th, Kong Phan sold 190 shares of Confluent stock. The stock was sold at an average price of $20.12, for a total transaction of $3,822.80.

Confluent Price Performance

CFLT stock traded up $0.91 during midday 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 debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of -28.40 and a beta of 0.82. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The stock’s 50-day moving average price is $23.12 and its 200-day moving average price is $24.62.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. Research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current year.

Institutional Trading of Confluent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Confluent by 3.5% during the first quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock worth $602,505,000 after buying an additional 669,675 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Confluent by 17.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after acquiring an additional 2,587,169 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Confluent by 72.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after purchasing an additional 4,486,841 shares during the period. 1832 Asset Management L.P. grew its position in shares of Confluent by 28.4% in the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after purchasing an additional 1,684,100 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in Confluent in the second quarter valued at $193,403,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CFLT. Scotiabank lifted their price target on shares of Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reduced their target price on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Citigroup raised their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price objective on shares of Confluent in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Confluent has a consensus rating of “Moderate Buy” and an average price target of $30.88.

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.