Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram Sells 68,350 Shares

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 68,350 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the sale, the chief financial officer now owns 520,273 shares in the company, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Rohan Sivaram also recently made the following trade(s):

• On Wednesday, November 20th, Rohan Sivaram sold 22,714 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total transaction of $641,216.22.

Confluent Trading Up 0.3 %

Shares of CFLT stock traded up $0.09 during trading on Tuesday, hitting $34.94. 7,129,154 shares of the stock traded hands, compared to its average volume of 5,441,578. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The firm has a market capitalization of $11.46 billion, a P/E ratio of -31.48 and a beta of 0.92. The firm’s fifty day moving average price is $29.71 and its 200-day moving average price is $25.63. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, research analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler raised their price objective on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. TD Cowen lifted their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Mizuho upped their price objective on shares of Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Canaccord Genuity Group lifted their target price on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently modified their holdings of CFLT. Creative Planning increased its position in shares of Confluent by 109.9% during the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Confluent by 14.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 18,481 shares of the company’s stock worth $377,000 after acquiring an additional 2,263 shares during the last quarter. US Bancorp DE boosted its position in shares of Confluent by 307.7% during the 3rd quarter. US Bancorp DE now owns 16,702 shares of the company’s stock worth $340,000 after purchasing an additional 12,605 shares during the period. Janney Capital Management LLC increased its holdings in Confluent by 52.2% in the 3rd quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock valued at $406,000 after purchasing an additional 6,842 shares during the last quarter. Finally, Fiera Capital Corp purchased a new stake in Confluent in the third quarter valued at approximately $21,127,000. 78.09% of the stock is owned by institutional investors and hedge funds.

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.