Confluent, Inc. (NASDAQ:CFLT) CAO Sells $229,852.12 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 6,346 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $229,852.12. Following the completion of the transaction, the chief accounting officer now owns 179,593 shares of the company’s stock, valued at $6,504,858.46. This represents a 3.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78.
• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The shares were 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 4.9 %

Shares of CFLT stock opened at $33.23 on Thursday. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of -30.77 and a beta of 0.92. The firm’s 50 day moving average price is $29.83 and its two-hundred day moving average price is $25.79. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. 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 posted 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 net margin of 35.81% and a negative return on equity of 35.45%. On average, analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on CFLT shares. Piper Sandler raised their target price on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. TD Cowen raised their target price on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Wells Fargo & Company raised their price target on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Mizuho raised their price target on shares of Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Trading of Confluent

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Confluent by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock valued at $694,207,000 after purchasing an additional 599,582 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Confluent by 1.3% in the fourth quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company’s stock worth $302,940,000 after buying an additional 133,908 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Confluent by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock worth $123,339,000 after buying an additional 84,163 shares during the last quarter. Jericho Capital Asset Management L.P. increased its stake in shares of Confluent by 18.1% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company’s stock worth $83,880,000 after buying an additional 459,000 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Confluent in the fourth quarter worth $81,092,000. 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.