Confluent (NASDAQ:CFLT) CRO Ban Ryan Norris Mac Sells 2,113 Shares

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 2,113 shares of Confluent stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $30.61, for a total value of $64,678.93. Following the completion of the transaction, the executive owned 390,163 shares of the company’s stock, valued at approximately $11,942,889.43. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Ban Ryan Norris Mac also recently made the following trade(s):

• On Friday, February 13th, Ban Ryan Norris Mac sold 1,655 shares of Confluent stock. The stock was sold at an average price of $30.54, for a total value of $50,543.70.
• On Tuesday, December 23rd, Ban Ryan Norris Mac sold 3,053 shares of Confluent stock. The stock was sold at an average price of $29.96, for a total transaction of $91,467.88.
• On Monday, December 22nd, Ban Ryan Norris Mac sold 1,218 shares of Confluent stock. The shares were sold at an average price of $29.96, for a total transaction of $36,491.28.
• On Monday, December 8th, Ban Ryan Norris Mac sold 44,114 shares of Confluent stock. The shares were sold at an average price of $29.77, for a total value of $1,313,273.78.
• On Thursday, November 20th, Ban Ryan Norris Mac sold 15,062 shares of Confluent stock. The shares were sold at an average price of $22.51, for a total value of $339,045.62.

Confluent Price Performance

Confluent stock traded down $0.04 during trading hours on Wednesday, hitting $30.66. 6,776,448 shares of the company traded hands, compared to its average volume of 18,098,496. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $34.81. The firm has a market cap of $10.73 billion, a P/E ratio of -35.65 and a beta of 0.95. The firm’s 50-day simple moving average is $30.34 and its two-hundred day simple moving average is $24.29. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.94.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The company had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Confluent

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Confluent by 10.5% during the third quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company’s stock worth $620,675,000 after buying an additional 2,970,708 shares during the last quarter. HBK Investments L P acquired a new stake in shares of Confluent in the fourth quarter worth about $453,600,000. Champlain Investment Partners LLC boosted its stake in shares of Confluent by 6.7% during the 2nd quarter. Champlain Investment Partners LLC now owns 11,590,026 shares of the company’s stock worth $288,939,000 after acquiring an additional 727,943 shares in the last quarter. Jericho Capital Asset Management L.P. increased its holdings in shares of Confluent by 34.2% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 11,094,000 shares of the company’s stock valued at $335,483,000 after acquiring an additional 2,828,000 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Confluent during the 4th quarter valued at about $265,669,000. 78.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Robert W. Baird lifted their price objective on shares of Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 9th. Royal Bank Of Canada downgraded Confluent from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $30.00 to $31.00 in a report on Tuesday, December 9th. Morgan Stanley increased their price objective on Confluent from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Canaccord Genuity Group lowered Confluent from a “buy” rating to a “hold” rating and raised their price objective for the stock from $27.00 to $31.00 in a research report on Monday, December 8th. Finally, UBS Group downgraded Confluent from a “buy” rating to a “neutral” rating and upped their target price for the company from $29.00 to $31.00 in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.71.

Confluent Company Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.