Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram Sells 22,714 Shares

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 22,714 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $641,216.22. Following the completion of the sale, the chief financial officer now directly owns 532,623 shares of the company’s stock, valued at $15,035,947.29. This represents a 4.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $31.52 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The firm has a market capitalization of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82. The company’s fifty day moving average is $23.35 and its two-hundred day moving average is $24.57.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The firm had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Analysts forecast that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Evercore ISI reduced their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft lowered their target price on Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Sanford C. Bernstein reduced their price objective on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Truist Financial reissued a “buy” rating and set a $30.00 target price (down previously from $36.00) on shares of Confluent in a research report on Thursday, August 1st. Finally, DA Davidson reissued a “buy” rating and issued a $30.00 price target on shares of Confluent in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average target price of $30.88.

Institutional Investors Weigh In On Confluent

A number of institutional investors and hedge funds have recently modified their holdings of CFLT. ProShare Advisors LLC grew its holdings in Confluent by 19.6% in the first quarter. ProShare Advisors LLC now owns 11,719 shares of the company’s stock valued at $358,000 after purchasing an additional 1,922 shares during the last quarter. Vanguard Group Inc. grew its stake in Confluent by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock valued at $602,505,000 after acquiring an additional 669,675 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after acquiring an additional 1,500 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Confluent by 9.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 199,789 shares of the company’s stock worth $6,099,000 after acquiring an additional 17,435 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Confluent in the first quarter valued at about $1,272,000. Institutional investors and hedge funds 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.