Kong Phan Sells 760 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 760 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $32.00, for a total transaction of $24,320.00. Following the completion of the sale, the chief accounting officer now owns 249,691 shares of the company’s stock, valued at approximately $7,990,112. This represents a 0.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 transaction of $93,480.00.
• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total transaction of $68,781.24.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The stock was sold at an average price of $36.22, for a total transaction of $229,852.12.
• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The stock was 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 stock was sold at an average price of $31.30, for a total transaction of $389,998.00.

Confluent Trading Up 0.2 %

Shares of Confluent stock opened at $31.74 on Friday. The firm’s 50 day moving average is $29.96 and its 200 day moving average is $26.36. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The firm has a market capitalization of $10.41 billion, a PE ratio of -29.39 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Equities research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Barclays raised their price target on shares of Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. 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 report on Wednesday, February 12th. Guggenheim raised their target price on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.15.

Institutional Investors Weigh In On Confluent

Several hedge funds have recently added to or reduced their stakes in CFLT. Champlain Investment Partners LLC boosted its position in 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 buying an additional 4,486,841 shares during the period. Norges Bank acquired a new stake in Confluent during the 4th quarter worth approximately $81,092,000. Pictet Asset Management Holding SA lifted its position in shares of Confluent by 7,342.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock worth $65,748,000 after purchasing an additional 2,319,919 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Confluent in the 4th quarter worth approximately $64,658,000. Finally, Fiera Capital Corp acquired a new position in shares of Confluent in the 3rd quarter worth approximately $21,127,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.