Kong Phan Sells 3,175 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,175 shares of Confluent stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $26.86, for a total value of $85,280.50. Following the transaction, the chief accounting officer now owns 246,516 shares in the company, valued at approximately $6,621,419.76. The trade was a 1.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, February 26th, Kong Phan sold 760 shares of Confluent stock. The stock was sold at an average price of $32.00, for a total value of $24,320.00.
• On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The shares were sold at an average price of $30.75, for a total transaction of $93,480.00.
• 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 transaction of $68,781.24.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The stock was sold at an average price of $36.22, for a total value of $229,852.12.

Confluent Trading Down 1.5 %

Shares of Confluent stock opened at $26.89 on Wednesday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The company has a fifty day simple moving average of $29.46 and a 200-day simple moving average of $27.13. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of -24.90 and a beta of 0.90. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90.

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

Institutional Investors Weigh In On Confluent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp increased its holdings in shares of Confluent by 12.3% in the 4th quarter. M&T Bank Corp now owns 21,540 shares of the company’s stock valued at $602,000 after acquiring an additional 2,367 shares during the period. Quantbot Technologies LP raised its holdings in shares of Confluent by 1,465.6% in the third quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock valued at $617,000 after buying an additional 28,360 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Confluent by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock worth $46,549,000 after buying an additional 64,926 shares during the last quarter. XTX Topco Ltd acquired a new position in Confluent in the 3rd quarter valued at about $868,000. Finally, Friedenthal Financial purchased a new stake in Confluent during the 4th quarter valued at approximately $758,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

CFLT has been the topic of several recent analyst reports. Canaccord Genuity Group upped their price target on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays increased their target price on shares of Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Scotiabank boosted their price target on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Loop Capital lowered their price objective on shares of Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Finally, Piper Sandler boosted their target price on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Confluent Company Profile

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.