Rohan Sivaram Sells 23,605 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 23,605 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.58, for a total transaction of $745,445.90. Following the transaction, the chief financial officer now owns 497,806 shares in the company, valued at $15,720,713.48. The trade was a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, February 13th, Rohan Sivaram sold 68,350 shares of Confluent stock. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50.

Confluent Stock Performance

Shares of NASDAQ:CFLT traded down $0.65 during mid-day trading on Tuesday, reaching $30.44. 5,460,988 shares of the company traded hands, compared to its average volume of 5,662,908. The company’s 50 day moving average price is $29.86 and its 200-day moving average price is $26.10. The firm has a market cap of $9.98 billion, a PE ratio of -28.19 and a beta of 0.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CFLT. Robert W. Baird lifted their price target on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Canaccord Genuity Group raised their price objective on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler raised their price objective on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Bank of America raised their price objective on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research report on Wednesday, February 12th. Finally, Guggenheim lifted their price target on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One equities 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CFLT. Creative Planning boosted its position in shares of Confluent by 109.9% during the 3rd 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. 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 valued at $340,000 after acquiring an additional 12,605 shares during the last quarter. Janney Capital Management LLC boosted its position in shares of Confluent by 52.2% during the 3rd quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock valued at $406,000 after acquiring an additional 6,842 shares during the last quarter. Fiera Capital Corp bought a new position in shares of Confluent during the 3rd quarter valued at approximately $21,127,000. Finally, SpiderRock Advisors LLC boosted its position in shares of Confluent by 323.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 264,038 shares of the company’s stock valued at $5,381,000 after acquiring an additional 201,721 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors.

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.