Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 3,040 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,040 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $30.75, for a total value of $93,480.00. Following the sale, the chief accounting officer now directly owns 174,375 shares of the company’s stock, valued at $5,362,031.25. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value 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 value 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 Trading Down 2.1 %

Shares of CFLT stock traded down $0.65 on Tuesday, reaching $30.44. 5,460,988 shares of the stock were exchanged, compared to its average volume of 5,662,908. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The stock has a market cap of $9.98 billion, a P/E ratio of -28.19 and a beta of 0.92. The firm has a 50 day moving average of $29.86 and a two-hundred day moving average of $26.10. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CFLT shares. Wells Fargo & Company lifted their price target on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price objective on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Evercore ISI upped their target price on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. UBS Group lifted their price target on Confluent from $26.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Bank of America increased their price objective on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Cache Advisors LLC acquired a new stake in shares of Confluent in the fourth quarter worth $1,322,000. Neo Ivy Capital Management acquired a new position in shares of Confluent during the 4th quarter valued at $2,088,000. Vident Advisory LLC purchased a new stake in Confluent during the 4th quarter worth $972,000. Tairen Capital Ltd increased its holdings in Confluent by 45.6% in the 4th quarter. Tairen Capital Ltd now owns 72,798 shares of the company’s stock valued at $2,035,000 after purchasing an additional 22,798 shares in the last quarter. Finally, Shay Capital LLC purchased a new position in Confluent in the fourth quarter valued at about $419,000. Hedge funds and other 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.