Confluent, Inc. (NASDAQ:CFLT) CFO Sells $745,445.90 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 23,605 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.58, for a total value of $745,445.90. Following the completion of the transaction, the chief financial officer now directly owns 497,806 shares in the company, valued at $15,720,713.48. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 transaction of $2,476,320.50.

Confluent Stock Up 1.1 %

NASDAQ:CFLT opened at $30.79 on Thursday. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The stock’s fifty day moving average is $29.86 and its two-hundred day moving average is $26.21. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of -28.51 and a beta of 0.92. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data 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%. Research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Institutional Investors Weigh In On Confluent

A number of large investors have recently modified their holdings of the company. ProShare Advisors LLC raised its stake in Confluent by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock valued at $301,000 after buying an additional 328 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Confluent by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock worth $323,000 after acquiring an additional 458 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after purchasing an additional 503 shares during the last quarter. Truist Financial Corp boosted its holdings in Confluent by 2.5% in the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after purchasing an additional 514 shares in the last quarter. Finally, Jasper Ridge Partners L.P. increased its stake in Confluent by 4.8% in the fourth quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company’s stock valued at $403,000 after purchasing an additional 664 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CFLT has been the topic of a number of research reports. Evercore ISI increased their price objective on shares of Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. UBS Group raised shares of Confluent from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $38.00 in a report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their target price on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their price target on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.15.

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.