Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram Sells 11,000 Shares

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 11,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $31.14, for a total value of $342,540.00. Following the sale, the chief financial officer now owns 701,403 shares of the company’s stock, valued at approximately $21,841,689.42. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rohan Sivaram also recently made the following trade(s):

• On Friday, February 21st, Rohan Sivaram sold 23,605 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value of $745,445.90.
• On Thursday, February 13th, Rohan Sivaram sold 68,350 shares of Confluent stock. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50.

Confluent Trading Up 8.0 %

NASDAQ:CFLT opened at $32.20 on Thursday. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The company has a 50 day simple moving average of $30.00 and a two-hundred day simple moving average of $26.55. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The company has a market cap of $10.76 billion, a PE ratio of -29.81 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last announced its quarterly 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 34.70% and a negative net margin of 35.81%. Research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $38.00 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on shares of Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Canaccord Genuity Group boosted their price objective on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. 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. Finally, Wells Fargo & Company increased their price objective on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and an average price target of $35.15.

Hedge Funds Weigh In On Confluent

Hedge funds and other institutional investors have recently modified their holdings of the business. Credit Industriel ET Commercial purchased a new position in shares of Confluent in the fourth quarter worth $28,000. Blue Trust Inc. grew its holdings in shares of Confluent by 354.0% in the fourth 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. acquired a new position in Confluent during the 4th quarter worth approximately $59,000. Point72 Hong Kong Ltd purchased a new stake in Confluent in the 3rd quarter valued at $68,000. Finally, GAMMA Investing LLC raised its position in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors.

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.