Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 760 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 760 shares of the stock in a transaction on Wednesday, February 26th. The stock was 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 directly owns 249,691 shares of the company’s stock, valued at $7,990,112. The trade was a 0.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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 value of $93,480.00.
• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The shares were 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 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 stock was sold at an average price of $31.30, for a total transaction of $389,998.00.

Confluent Stock Performance

Shares of CFLT traded up $0.05 during mid-day trading on Friday, reaching $31.74. 5,168,860 shares of the company’s stock traded hands, compared to its average volume of 4,202,914. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The stock has a market capitalization of $10.41 billion, a P/E ratio of -29.39 and a beta of 0.92. The business’s 50-day moving average price is $29.93 and its 200-day moving average price is $26.24. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

Confluent (NASDAQ:CFLT) last announced its earnings results 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 net margin of 35.81% and a negative return on equity of 34.70%. Equities analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on CFLT shares. TD Cowen raised their target price on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays raised their price objective on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Needham & Company LLC upped their target price on Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler raised their price target on shares of Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley lifted their price target on shares of Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.15.

Hedge Funds Weigh In On Confluent

A number of institutional investors and hedge funds have recently bought and sold shares of CFLT. Credit Industriel ET Commercial acquired a new position in Confluent during the 4th quarter valued at about $28,000. Blue Trust Inc. increased its stake in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after acquiring an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Confluent during the fourth quarter valued at approximately $59,000. Point72 Hong Kong Ltd bought a new stake in Confluent during the third quarter worth approximately $68,000. Finally, GAMMA Investing LLC lifted its position in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares during the period. 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.