Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 12,460 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 12,460 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $31.30, for a total value of $389,998.00. Following the completion of the sale, the chief accounting officer now owns 183,886 shares in the company, valued at approximately $5,755,631.80. This represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 20th, Kong Phan sold 2,096 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total value of $59,170.08.
• On Friday, September 20th, Kong Phan sold 190 shares of Confluent stock. The shares were sold at an average price of $20.12, for a total transaction of $3,822.80.

Confluent Stock Up 3.2 %

CFLT stock traded up $0.98 during mid-day trading on Monday, hitting $31.47. The stock had a trading volume of 3,719,843 shares, compared to its average volume of 4,344,167. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07. The company has a fifty day moving average of $26.86 and a 200 day moving average of $24.65. 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 stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of -28.38 and a beta of 0.88.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oddo BHF Asset Management Sas bought a new stake in Confluent in the third quarter worth $7,646,000. Tidal Investments LLC lifted its position in shares of Confluent by 521.0% in the third quarter. Tidal Investments LLC now owns 50,545 shares of the company’s stock worth $1,030,000 after buying an additional 42,406 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Confluent by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company’s stock worth $384,000 after buying an additional 3,298 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Confluent by 11,796.1% during the 3rd quarter. Westside Investment Management Inc. now owns 12,253 shares of the company’s stock worth $250,000 after acquiring an additional 12,150 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Confluent by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup boosted their price target on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Robert W. Baird boosted their target price on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price target on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada boosted their price objective on Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $40.00 target price on shares of Confluent in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.04.

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.