Confluent, Inc. (NASDAQ:CFLT) Short Interest Update

Confluent, Inc. (NASDAQ:CFLT) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 19,670,000 shares, a growth of 5.6% from the September 15th total of 18,630,000 shares. Based on an average daily volume of 4,370,000 shares, the short-interest ratio is currently 4.5 days. Approximately 8.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

CFLT has been the topic of a number of research reports. Bank of America cut their target price on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. Loop Capital reduced their price objective on shares of Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Canaccord Genuity Group reduced their price target on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Evercore ISI dropped their price objective on Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.79.

Insider Transactions at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,045,235.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Stephanie Buscemi sold 3,866 shares of Confluent stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the sale, the chief marketing officer now directly owns 161,673 shares of the company’s stock, valued at $3,505,070.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 524,453 shares of company stock worth $10,833,388. Corporate insiders own 13.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CFLT. Daiwa Securities Group Inc. increased its position in shares of Confluent by 7.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock worth $369,000 after purchasing an additional 800 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Confluent by 8.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock valued at $322,000 after acquiring an additional 857 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares during the period. Hollencrest Capital Management acquired a new position in shares of Confluent during the 1st quarter worth about $26,000. Finally, Resolute Advisors LLC raised its holdings in shares of Confluent by 11.1% in the 1st quarter. Resolute Advisors LLC now owns 8,693 shares of the company’s stock valued at $265,000 after purchasing an additional 869 shares during the period. Institutional investors own 78.09% of the company’s stock.

Confluent Stock Up 0.8 %

Shares of NASDAQ:CFLT traded up $0.17 during mid-day trading on Thursday, reaching $22.32. 2,636,313 shares of the stock were exchanged, compared to its average volume of 4,364,793. The stock’s 50 day simple moving average is $20.68 and its 200-day simple moving average is $25.16. Confluent has a one year low of $14.69 and a one year high of $35.07. The company has a market cap of $7.09 billion, a P/E ratio of -17.86 and a beta of 0.88. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The business had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. As a group, equities research analysts predict that Confluent will post -0.95 EPS for the current year.

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.