Confluent, Inc. (NASDAQ:CFLT) CTO Sells $222,429.12 in Stock

Confluent, Inc. (NASDAQ:CFLT) CTO Chad Verbowski sold 8,312 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $26.76, for a total transaction of $222,429.12. Following the sale, the chief technology officer now owns 510,347 shares in the company, valued at $13,656,885.72. The sale was disclosed in a filing with the SEC, which is available at this link.

Chad Verbowski also recently made the following trade(s):

• On Monday, May 20th, Chad Verbowski sold 13,413 shares of Confluent stock. The stock was sold at an average price of $31.96, for a total value of $428,679.48.

Confluent Trading Up 1.6 %

Shares of NASDAQ:CFLT opened at $27.55 on Thursday. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $8.76 billion, a PE ratio of -22.04 and a beta of 0.88. Confluent, Inc. has a 12-month low of $14.69 and a 12-month high of $41.22. The business’s fifty day simple moving average is $28.58 and its 200-day simple moving average is $27.99.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). The company had revenue of $217.24 million during the quarter, compared to analysts’ expectations of $211.57 million. Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. As a group, equities research analysts predict that Confluent, Inc. will post -0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and set a $36.00 target price (up previously from $33.00) on shares of Confluent in a research report on Wednesday, May 8th. TD Cowen boosted their price objective on shares of Confluent from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Confluent in a report on Tuesday, June 11th. DA Davidson reaffirmed a “buy” rating and set a $37.00 price target on shares of Confluent in a research note on Monday, April 1st. Finally, Canaccord Genuity Group raised shares of Confluent from a “hold” rating to a “buy” rating and increased their price objective for the stock from $28.00 to $35.00 in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.93.

Institutional Investors Weigh In On Confluent

A number of hedge funds and other institutional investors have recently bought and sold shares of CFLT. Rhumbline Advisers lifted its holdings in shares of Confluent by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 243,828 shares of the company’s stock valued at $7,220,000 after purchasing an additional 629 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Confluent in the third quarter valued at about $247,000. PNC Financial Services Group Inc. boosted its holdings in Confluent by 32.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,533 shares of the company’s stock worth $105,000 after acquiring an additional 864 shares in the last quarter. Nordea Investment Management AB purchased a new stake in shares of Confluent during the third quarter worth about $233,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Confluent by 30.6% during the third quarter. Hsbc Holdings PLC now owns 111,903 shares of the company’s stock valued at $3,318,000 after acquiring an additional 26,251 shares in 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.