Rohan Sivaram Sells 11,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 11,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $31.14, for a total transaction of $342,540.00. Following the sale, the chief financial officer now directly owns 701,403 shares of the company’s stock, valued at $21,841,689.42. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rohan Sivaram also recently made the following trade(s):

• On Friday, February 21st, Rohan Sivaram sold 23,605 shares of Confluent stock. The shares were sold at an average price of $31.58, for a total value of $745,445.90.
• On Thursday, February 13th, Rohan Sivaram sold 68,350 shares of Confluent stock. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50.

Confluent Stock Performance

Shares of CFLT stock opened at $32.20 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock has a fifty day moving average price of $30.00 and a 200 day moving average price of $26.55. The stock has a market cap of $10.76 billion, a PE ratio of -29.81 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 quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Sell-side analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Confluent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFLT. Credit Industriel ET Commercial purchased a new position in Confluent during the 4th quarter valued at about $28,000. Blue Trust Inc. raised its stake in shares of Confluent by 354.0% in the fourth 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 position in shares of Confluent during the fourth quarter worth approximately $59,000. Point72 Hong Kong Ltd acquired a new position in Confluent in the third quarter valued at approximately $68,000. Finally, GAMMA Investing LLC lifted its holdings in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. Institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CFLT. Bank of America increased their price objective on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their target price on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. UBS Group raised Confluent from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $38.00 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their target price on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $35.15.

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.