Confluent, Inc. (NASDAQ:CFLT) CAO Sells $229,852.12 in Stock

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

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

• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The shares were 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 shares were sold at an average price of $28.23, for a total transaction of $59,170.08.

Confluent Stock Performance

Shares of NASDAQ CFLT opened at $32.54 on Friday. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of -30.13 and a beta of 0.92. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The business has a fifty day simple moving average of $29.85 and a 200 day simple moving average of $25.84. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Confluent by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock valued at $694,207,000 after purchasing an additional 599,582 shares during the period. Champlain Investment Partners LLC grew its position in Confluent by 1.3% in the fourth quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company’s stock valued at $302,940,000 after acquiring an additional 133,908 shares during the period. Geode Capital Management LLC raised its stake in Confluent by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock worth $123,339,000 after acquiring an additional 84,163 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of Confluent by 18.1% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company’s stock valued at $83,880,000 after acquiring an additional 459,000 shares during the period. Finally, Norges Bank acquired a new stake in shares of Confluent in the 4th quarter valued at $81,092,000. Institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the topic of several recent research reports. Mizuho raised their target price on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Stifel Nicolaus raised their price objective on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their target price on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Morgan Stanley increased their price target on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, Citigroup boosted their price objective on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

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.