Rohan Sivaram Sells 23,605 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 23,605 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.58, for a total value of $745,445.90. Following the transaction, the chief financial officer now directly owns 497,806 shares of the company’s stock, valued at approximately $15,720,713.48. This trade represents a 4.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value of $2,476,320.50.

Confluent Price Performance

Confluent stock opened at $30.79 on Thursday. The firm has a 50-day moving average of $29.86 and a two-hundred day moving average of $26.21. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of -28.51 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data 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%. On average, research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Confluent

Several large investors have recently modified their holdings of CFLT. Credit Industriel ET Commercial purchased a new stake in shares of Confluent during the fourth quarter valued at about $28,000. Blue Trust Inc. boosted its stake in 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 acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Confluent in the fourth quarter worth $59,000. GAMMA Investing LLC increased its position in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Confluent during the 3rd quarter valued at $68,000. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CFLT shares. Bank of America lifted their target price on Confluent from $26.00 to $31.00 and gave the stock an “underperform” 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 company a “buy” rating in a report on Wednesday, February 12th. UBS Group raised shares of Confluent from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $38.00 in a report on Wednesday. Truist Financial increased their price objective on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Barclays lifted their price objective on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently 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.