Kong Phan Sells 6,346 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 6,346 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total transaction of $229,852.12. Following the sale, the chief accounting officer now directly owns 179,593 shares in the company, valued at approximately $6,504,858.46. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The stock was sold at an average price of $28.74, for a total transaction 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 transaction of $389,998.00.
• On Wednesday, November 20th, Kong Phan sold 2,096 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total transaction of $59,170.08.

Confluent Stock Down 4.9 %

CFLT stock opened at $33.23 on Thursday. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The stock has a market capitalization of $10.90 billion, a PE ratio of -30.77 and a beta of 0.92. 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 fifty day moving average of $29.83 and a 200-day moving average of $25.79.

Confluent (NASDAQ:CFLT) last released its earnings results 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 return on equity of 35.45% and a negative net margin of 35.81%. As a group, analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CFLT shares. Barclays increased their price objective on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Robert W. Baird increased their price objective on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler increased their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and issued a $40.00 price objective on shares of Confluent in a research report on Tuesday, October 29th. Finally, Bank of America increased their price objective on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Institutional Trading of Confluent

Hedge funds have recently made changes to their positions in the company. Credit Industriel ET Commercial acquired a new stake in shares of Confluent in the 4th quarter worth $28,000. Blue Trust Inc. increased its holdings in shares of 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. purchased a new position in shares of Confluent in the 4th quarter valued at about $59,000. Point72 Hong Kong Ltd purchased a new position in shares of Confluent in the 3rd quarter valued at about $68,000. Finally, GAMMA Investing LLC increased its holdings in shares of Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares in the last quarter. 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.