Confluent, Inc. (NASDAQ:CFLT) CAO Sells $93,480.00 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,040 shares of Confluent stock in a transaction on Monday, February 24th. The stock was sold at an average price of $30.75, for a total transaction of $93,480.00. Following the transaction, the chief accounting officer now directly owns 174,375 shares of the company’s stock, valued at $5,362,031.25. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 shares were sold at an average price of $36.22, for a total transaction of $229,852.12.
• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The shares were sold at an average price of $28.74, for a total value of $113,436.78.
• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The stock was sold at an average price of $31.30, for a total value of $389,998.00.

Confluent Stock Performance

Shares of NASDAQ:CFLT opened at $31.69 on Friday. The business’s 50 day moving average price is $29.93 and its 200-day moving average price is $26.24. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The firm has a market capitalization of $10.39 billion, a PE ratio of -29.34 and a beta of 0.92. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90.

Confluent (NASDAQ:CFLT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on CFLT shares. Piper Sandler increased their target price on shares of Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. UBS Group upgraded Confluent from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $38.00 in a research note on Wednesday. Guggenheim upped their price target on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Bank of America increased their price objective on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their target price on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.15.

Institutional Investors Weigh In On Confluent

A number of hedge funds have recently modified their holdings of CFLT. Credit Industriel ET Commercial purchased a new stake in shares of Confluent during the 4th quarter valued at approximately $28,000. Blue Trust Inc. raised its position in Confluent by 354.0% in the 4th 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Confluent in the fourth quarter valued at approximately $59,000. Point72 Hong Kong Ltd purchased a new stake in shares of Confluent during the 3rd quarter worth $68,000. Finally, GAMMA Investing LLC lifted its holdings in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the last quarter. Hedge funds and other institutional investors 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.