Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan Sells 6,346 Shares

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 6,346 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total transaction of $229,852.12. Following the transaction, the chief accounting officer now directly owns 179,593 shares of the company’s stock, valued at $6,504,858.46. This represents a 3.41 % decrease in their ownership of the stock. The sale 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 Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The stock was 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 shares were sold at an average price of $31.30, for a total transaction of $389,998.00.
• 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 transaction of $59,170.08.

Confluent Stock Performance

Shares of NASDAQ:CFLT traded up $0.09 on Tuesday, reaching $34.94. 7,129,154 shares of the company’s stock were exchanged, compared to its average volume of 5,441,578. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a fifty day moving average of $29.71 and a 200-day moving average of $25.63. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of -31.48 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, research analysts predict 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 bought and sold shares of CFLT. Credit Industriel ET Commercial acquired a new stake in Confluent during the fourth quarter worth about $28,000. Blue Trust Inc. lifted its holdings in shares of Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Confluent during the 4th quarter worth approximately $59,000. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent in the 3rd quarter valued at $68,000. Finally, GAMMA Investing LLC raised its holdings in shares of Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CFLT shares. UBS Group upped their target price on Confluent from $26.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Barclays upped their price objective on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Piper Sandler increased 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. Needham & Company LLC boosted their target price on shares of Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Guggenheim increased their price target on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.00.

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.