Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 1,309 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 1,309 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $24.00, for a total value of $31,416.00. Following the sale, the chief accounting officer now directly owns 243,317 shares of the company’s stock, valued at $5,839,608. This represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, May 20th, Kong Phan sold 1,890 shares of Confluent stock. The stock was sold at an average price of $21.83, for a total value of $41,258.70.
• On Thursday, March 20th, Kong Phan sold 3,175 shares of Confluent stock. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50.

Confluent Stock Up 0.1%

CFLT stock traded up $0.03 during trading on Monday, reaching $24.39. The stock had a trading volume of 3,921,729 shares, compared to its average volume of 4,888,342. 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 company has a market capitalization of $8.30 billion, a price-to-earnings ratio of -22.58 and a beta of 0.98. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The company’s 50 day moving average is $21.97 and its two-hundred day moving average is $26.85.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $271.12 million during the quarter, compared to analyst estimates of $264.45 million. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Confluent’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. Equities research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JMP Securities cut their target price on shares of Confluent from $40.00 to $36.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 1st. Evercore ISI dropped their price objective on shares of Confluent from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group cut their price objective on shares of Confluent from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada raised their target price on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Confluent in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.11.

Institutional Trading of Confluent

Several hedge funds have recently added to or reduced their stakes in CFLT. Cloud Capital Management LLC bought a new stake in shares of Confluent in the 1st quarter worth approximately $26,000. Credit Industriel ET Commercial purchased a new stake in Confluent in the fourth quarter worth $28,000. Versant Capital Management Inc raised its stake in shares of Confluent by 2,458.2% in the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company’s stock valued at $40,000 after buying an additional 1,647 shares during the period. Banque Transatlantique SA purchased a new position in shares of Confluent during the 1st quarter valued at $43,000. Finally, SVB Wealth LLC bought a new position in shares of Confluent during the 1st quarter worth $54,000. 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.