Kong Phan Sells 3,175 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,175 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $26.86, for a total value of $85,280.50. Following the sale, the chief accounting officer now directly owns 246,516 shares of the company’s stock, valued at $6,621,419.76. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, February 26th, Kong Phan sold 760 shares of Confluent stock. The shares were sold at an average price of $32.00, for a total value of $24,320.00.
• 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 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 shares were sold at an average price of $36.22, for a total transaction of $229,852.12.

Confluent Stock Performance

NASDAQ:CFLT opened at $25.96 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock’s fifty day moving average is $29.43 and its 200 day moving average is $27.13. The firm has a market capitalization of $8.67 billion, a PE ratio of -24.04 and a beta of 0.90. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90.

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%. On average, sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. William Blair reiterated an “outperform” rating on shares of Confluent in a research note on Monday, March 17th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of Confluent in a research report on Friday, March 7th. Wells Fargo & Company boosted their price target on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Scotiabank increased their price objective on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, Loop Capital reduced their price objective on shares of Confluent from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Confluent in the fourth quarter worth approximately $81,092,000. Pictet Asset Management Holding SA increased its stake in Confluent by 7,342.2% in the fourth 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. bought a new stake in shares of Confluent during the fourth quarter worth $64,658,000. MIG Capital LLC purchased a new stake in shares of Confluent during the fourth quarter valued at $27,007,000. Finally, Greenhouse Funds LLLP grew its holdings in shares of Confluent by 102.2% in the fourth quarter. Greenhouse Funds LLLP now owns 1,820,446 shares of the company’s stock worth $50,900,000 after purchasing an additional 919,997 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

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.