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

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,040 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $30.75, for a total value of $93,480.00. Following the transaction, the chief accounting officer now owns 174,375 shares in the company, valued at $5,362,031.25. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The shares were 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 value 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 value of $389,998.00.

Confluent Stock Down 2.1 %

NASDAQ:CFLT opened at $30.44 on Wednesday. The stock’s fifty day moving average price is $29.84 and its two-hundred day moving average price is $26.17. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The company has a market cap of $9.98 billion, a price-to-earnings ratio of -28.19 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share 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, analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CFLT. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Confluent in a research note on Tuesday, October 29th. Morgan Stanley upped their price objective on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Truist Financial upped their price objective on Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Robert W. Baird upped their price objective on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Bank of America upped their price objective on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CFLT. Creative Planning lifted its stake in shares of Confluent by 109.9% in the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after purchasing an additional 49,699 shares during the period. US Bancorp DE lifted its stake in shares of Confluent by 307.7% in the 3rd quarter. US Bancorp DE now owns 16,702 shares of the company’s stock valued at $340,000 after purchasing an additional 12,605 shares during the period. Janney Capital Management LLC lifted its stake in shares of 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 period. Fiera Capital Corp acquired a new position in shares of Confluent in the 3rd quarter valued at $21,127,000. Finally, SpiderRock Advisors LLC raised its stake in Confluent by 323.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 264,038 shares of the company’s stock worth $5,381,000 after buying an additional 201,721 shares during the period. Institutional investors and hedge funds 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.