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

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 22,714 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was 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 owns 532,623 shares in the company, valued at $15,035,947.29. This represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $31.52 on Friday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average of $23.35 and a two-hundred day moving average of $24.64. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million during 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%. On average, equities research analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on CFLT. Wells Fargo & Company decreased their price target on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and set a $31.00 target price on shares of Confluent in a research report on Friday, November 15th. Royal Bank of Canada lifted their target price on shares of Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. UBS Group lifted their target price on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Mizuho lifted their target price on shares of Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in Confluent during the second quarter worth $68,000. Point72 Hong Kong Ltd bought a new position in shares of Confluent in the third quarter valued at about $68,000. UniSuper Management Pty Ltd raised its position in shares of Confluent by 125.0% in the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares during the period. Advisors Asset Management Inc. raised its position in shares of Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.