Confluent Sees Unusually Large Options Volume (NASDAQ:CFLT)

Confluent, Inc. (NASDAQ:CFLT) was the target of some unusual options trading on Wednesday. Stock investors acquired 13,693 call options on the company. This is an increase of 72% compared to the average volume of 7,944 call options.

Confluent Stock Up 2.9 %

CFLT stock opened at $31.69 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The stock has a market capitalization of $10.39 billion, a P/E ratio of -29.34 and a beta of 0.92. The business has a 50-day moving average of $29.93 and a 200-day moving average of $26.24. Confluent has a fifty-two week low of $17.79 and a fifty-two week high of $37.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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%. On average, sell-side analysts anticipate that Confluent will post -0.83 earnings per share for the current fiscal year.

Insider Activity at Confluent

In other Confluent news, CAO Kong Phan sold 12,460 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $31.30, for a total value of $389,998.00. Following the sale, the chief accounting officer now owns 183,886 shares of the company’s stock, valued at $5,755,631.80. This trade represents a 6.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Matthew Craig Miller sold 347,646 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $32.69, for a total value of $11,364,547.74. Following the completion of the sale, the director now directly owns 22,688 shares in the company, valued at $741,670.72. This trade represents a 93.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,429,105 shares of company stock valued at $46,878,099. Corporate insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

Several institutional investors and hedge funds have recently bought and sold shares of CFLT. Champlain Investment Partners LLC raised its holdings in Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after acquiring an additional 4,486,841 shares in the last quarter. Norges Bank bought a new stake in Confluent during the fourth quarter worth about $81,092,000. Pictet Asset Management Holding SA raised its holdings in Confluent by 7,342.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock worth $65,748,000 after acquiring an additional 2,319,919 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Confluent during the fourth quarter worth about $64,658,000. Finally, Fiera Capital Corp bought a new stake in Confluent in the third quarter valued at approximately $21,127,000. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Needham & Company LLC boosted their price target on Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Bank of America boosted their price target on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Scotiabank lifted their price objective on Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.15.

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.