Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells $113,436.78 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,947 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $28.74, for a total value of $113,436.78. Following the transaction, the chief accounting officer now owns 179,939 shares in the company, valued at approximately $5,171,446.86. This represents a 2.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 value 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 value of $59,170.08.

Confluent Stock Up 0.2 %

Confluent stock opened at $30.01 on Thursday. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The stock has a fifty day simple moving average of $28.23 and a two-hundred day simple moving average of $24.88. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of -27.04 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Equities 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 added to or reduced their stakes in CFLT. Champlain Investment Partners LLC raised its stake in Confluent by 72.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after buying an additional 4,486,841 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Confluent by 28.4% in the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after acquiring an additional 1,684,100 shares during the period. William Blair Investment Management LLC purchased a new position in Confluent in the second quarter worth about $193,403,000. Geode Capital Management LLC grew its stake in shares of Confluent by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after purchasing an additional 107,510 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Confluent by 60.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock valued at $103,665,000 after purchasing an additional 1,316,804 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the subject of several research reports. Stifel Nicolaus upped their price objective on shares of Confluent from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Confluent in a research report on Friday, November 15th. Citigroup increased their target price on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Scotiabank lifted their price target on Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.23.

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.