Kong Phan Sells 2,178 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 2,178 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.58, for a total transaction of $68,781.24. Following the completion of the transaction, the chief accounting officer now owns 177,415 shares in the company, valued at approximately $5,602,765.70. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction of $93,480.00.
• 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.
• 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 value 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 value of $389,998.00.

Confluent Stock Performance

NASDAQ CFLT opened at $30.79 on Thursday. The company has a market capitalization of $10.10 billion, a P/E ratio of -28.51 and a beta of 0.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a fifty day moving average of $29.86 and a 200-day moving average of $26.21.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (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%. As a group, equities research analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

CFLT has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Mizuho boosted their price target on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Guggenheim raised their price objective on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their target price on shares of Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, UBS Group upgraded Confluent from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $38.00 in a research report on Wednesday. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Confluent currently has a consensus rating of “Moderate Buy” and an average target price of $35.15.

Institutional Trading of Confluent

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning lifted its holdings in shares of Confluent by 109.9% in the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after acquiring an additional 49,699 shares during the last quarter. US Bancorp DE lifted its stake in Confluent by 307.7% in the third quarter. US Bancorp DE now owns 16,702 shares of the company’s stock worth $340,000 after purchasing an additional 12,605 shares during the last quarter. Janney Capital Management LLC boosted its position in Confluent by 52.2% during the third quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock valued at $406,000 after buying an additional 6,842 shares during the period. Fiera Capital Corp purchased a new stake in Confluent during the third quarter valued at about $21,127,000. Finally, SpiderRock Advisors LLC grew its stake in shares of Confluent by 323.7% during the third quarter. SpiderRock Advisors LLC now owns 264,038 shares of the company’s stock valued at $5,381,000 after buying an additional 201,721 shares during the last quarter. Hedge funds and other institutional investors 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.