Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan Sells 760 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 760 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $32.00, for a total transaction of $24,320.00. Following the transaction, the chief accounting officer now owns 249,691 shares of the company’s stock, valued at approximately $7,990,112. This trade represents a 0.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The shares were sold at an average price of $30.75, for a total transaction of $93,480.00.
• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total transaction of $68,781.24.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The stock was 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 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.

Confluent Trading Up 0.2 %

Shares of CFLT stock opened at $31.74 on Friday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The firm’s fifty day simple moving average is $29.96 and its 200 day simple moving average is $26.32. The firm has a market capitalization of $10.41 billion, a P/E ratio of -29.39 and a beta of 0.92. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) 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, sell-side analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

Institutional Investors Weigh In On Confluent

A number of institutional investors have recently bought and sold shares of the business. Infinitum Asset Management LLC acquired a new stake in Confluent during the fourth quarter worth $10,485,000. Cache Advisors LLC acquired a new stake in Confluent during the fourth quarter worth $1,322,000. Neo Ivy Capital Management acquired a new stake in Confluent during the fourth quarter worth $2,088,000. Vident Advisory LLC acquired a new stake in Confluent during the fourth quarter worth $972,000. Finally, Tairen Capital Ltd boosted its stake in Confluent by 45.6% during the fourth quarter. Tairen Capital Ltd now owns 72,798 shares of the company’s stock worth $2,035,000 after buying an additional 22,798 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CFLT shares. Piper Sandler raised 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. Canaccord Genuity Group raised their price target on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Barclays raised their price target on shares of Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Needham & Company LLC raised their price target on shares of Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Mizuho raised their price target on shares of Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.