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

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,175 shares of Confluent stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50. Following the sale, the chief accounting officer now directly owns 246,516 shares of the company’s stock, valued at $6,621,419.76. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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 value of $93,480.00.
• 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 stock was sold at an average price of $36.22, for a total transaction of $229,852.12.

Confluent Trading Up 3.0 %

Shares of Confluent stock opened at $27.30 on Tuesday. The stock has a market cap of $9.12 billion, a P/E ratio of -25.28 and a beta of 0.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The business’s 50 day moving average is $29.47 and its 200-day moving average is $27.08.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results 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%. Equities research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Confluent

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in Confluent by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 223,043 shares of the company’s stock valued at $6,236,000 after buying an additional 1,334 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Confluent by 36.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,763 shares of the company’s stock worth $860,000 after acquiring an additional 8,204 shares during the last quarter. Fluent Financial LLC bought a new stake in Confluent in the 4th quarter valued at $606,000. Infinitum Asset Management LLC acquired a new stake in Confluent during the 4th quarter valued at $10,485,000. Finally, Cache Advisors LLC bought a new position in Confluent during the fourth quarter worth $1,322,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CFLT shares. Truist Financial upped their target price on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their target price on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Loop Capital lowered their price target on Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. lifted their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Guggenheim boosted their price objective on Confluent from $35.00 to $38.00 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, seven have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Confluent currently has an average 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.