Kong Phan Sells 3,175 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,175 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total value of $85,280.50. Following the completion of the sale, the chief accounting officer now owns 246,516 shares in the company, valued at approximately $6,621,419.76. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, February 26th, Kong Phan sold 760 shares of Confluent stock. The shares were sold at an average price of $32.00, for a total transaction of $24,320.00.
• On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The stock was sold at an average price of $30.75, for a total value of $93,480.00.
• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The shares were sold at an average price of $31.58, for a total value of $68,781.24.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The shares were sold at an average price of $36.22, for a total value of $229,852.12.

Confluent Stock Up 3.0 %

Shares of CFLT stock traded up $0.80 on Monday, hitting $27.30. 3,958,094 shares of the stock were exchanged, compared to its average volume of 4,305,989. The business has a 50-day moving average of $29.46 and a 200 day moving average of $27.03. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The firm has a market capitalization of $9.12 billion, a P/E ratio of -25.28 and a beta of 0.90. 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 quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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%. Equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Hedge Funds Weigh In On Confluent

A number of institutional investors have recently added to or reduced their stakes in CFLT. ProShare Advisors LLC lifted 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 acquiring an additional 328 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Confluent by 4.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after purchasing an additional 458 shares during the last quarter. EP Wealth Advisors LLC grew its holdings 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 period. Truist Financial Corp increased its position in Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock worth $589,000 after buying an additional 514 shares during the last quarter. Finally, Jasper Ridge Partners L.P. raised 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 buying an additional 664 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CFLT has been the subject of several research reports. Bank of America raised 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. Wells Fargo & Company boosted their price objective on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler lifted their target price on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Mizuho boosted their target price on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Scotiabank raised their price target on Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $35.33.

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.