Kong Phan Sells 3,947 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,947 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the sale, the chief accounting officer now directly owns 179,939 shares of the company’s stock, valued at approximately $5,171,446.86. This trade represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kong Phan also recently made the following trade(s):

• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The shares were sold at an average price of $31.30, for a total transaction of $389,998.00.
• On Wednesday, November 20th, Kong Phan sold 2,096 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total transaction of $59,170.08.

Confluent Trading Up 0.2 %

NASDAQ CFLT opened at $30.01 on Wednesday. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of -27.04 and a beta of 0.88. The company’s 50-day simple moving average is $27.92 and its two-hundred day simple moving average is $24.81.

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

Wall Street Analyst Weigh In

CFLT has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $31.00 price objective on shares of Confluent in a research note on Friday, November 15th. Mizuho increased their price target on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup raised their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Truist Financial boosted their price objective on shares of Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Sanford C. Bernstein lowered their target price on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CFLT. Point72 Hong Kong Ltd bought a new stake in Confluent during the third quarter valued at about $68,000. Acadian Asset Management LLC purchased a new stake in shares of Confluent during the second quarter valued at about $175,000. Plato Investment Management Ltd boosted its holdings in shares of Confluent by 2,184.1% in the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after buying an additional 6,312 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Confluent in the 3rd quarter worth approximately $214,000. Finally, Centaurus Financial Inc. grew its position in shares of Confluent by 109.2% in the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock worth $216,000 after buying an additional 3,821 shares during the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

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.