Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram Sells 23,605 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 23,605 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.58, for a total transaction of $745,445.90. Following the completion of the sale, the chief financial officer now directly owns 497,806 shares of the company’s stock, valued at approximately $15,720,713.48. This trade represents a 4.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rohan Sivaram also recently made the following trade(s):

• On Thursday, February 13th, Rohan Sivaram sold 68,350 shares of Confluent stock. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50.

Confluent Stock Down 2.1 %

CFLT stock opened at $30.44 on Wednesday. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The stock has a market capitalization of $9.98 billion, a PE ratio of -28.19 and a beta of 0.92. 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 fifty day moving average of $29.84 and a 200-day moving average of $26.17.

Confluent (NASDAQ:CFLT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) 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%. As a group, analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Institutional Trading of Confluent

Several hedge funds have recently made changes to their positions in CFLT. Credit Industriel ET Commercial acquired a new stake in shares of Confluent in the 4th quarter worth $28,000. Blue Trust Inc. lifted its stake in shares of Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Confluent in the fourth quarter valued at about $59,000. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent in the third quarter valued at about $68,000. Finally, GAMMA Investing LLC lifted its stake in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CFLT shares. Royal Bank of Canada upped their price objective on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Citigroup increased their target price on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC increased their target price on shares of Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Confluent has an average rating of “Moderate Buy” and an average target price of $35.00.

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.