Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CFO Sells 22,926 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 22,926 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $497,035.68. Following the transaction, the chief financial officer now owns 555,337 shares in the company, valued at approximately $12,039,706.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, June 20th, Rohan Sivaram sold 858 shares of Confluent stock. The stock was sold at an average price of $26.76, for a total value of $22,960.08.

Confluent Price Performance

CFLT stock traded down $0.83 during midday trading on Thursday, hitting $21.27. 1,815,270 shares of the stock were exchanged, compared to its average volume of 4,530,488. The stock’s 50-day moving average price is $24.82 and its 200-day moving average price is $28.28. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of -17.02 and a beta of 0.91. Confluent, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $35.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 5.07 and a current ratio of 5.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $234.99 million for the quarter, compared to analyst estimates of $229.49 million. Confluent had a negative return on equity of 38.46% and a negative net margin of 42.70%. Research analysts predict that Confluent, Inc. will post -0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CFLT shares. Barclays raised their price target on Confluent from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Scotiabank dropped their price target on Confluent from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $30.00 price target (down previously from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Guggenheim reaffirmed a “buy” rating and set a $37.00 price objective on shares of Confluent in a research report on Tuesday, June 25th. Finally, TD Cowen decreased their price objective on Confluent from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.96.

Hedge Funds Weigh In On Confluent

Several hedge funds have recently bought and sold shares of CFLT. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Confluent by 5.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 360,754 shares of the company’s stock valued at $8,442,000 after purchasing an additional 19,054 shares during the period. Daiwa Securities Group Inc. raised its stake in Confluent by 6.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 11,300 shares of the company’s stock valued at $264,000 after buying an additional 700 shares in the last quarter. Federated Hermes Inc. raised its stake in Confluent by 34.3% during the fourth quarter. Federated Hermes Inc. now owns 529,619 shares of the company’s stock valued at $12,393,000 after buying an additional 135,330 shares in the last quarter. CWM LLC grew its holdings in shares of Confluent by 35.4% during the fourth quarter. CWM LLC now owns 8,694 shares of the company’s stock valued at $203,000 after purchasing an additional 2,271 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Confluent by 41.4% during the fourth quarter. Handelsbanken Fonder AB now owns 37,892 shares of the company’s stock valued at $887,000 after purchasing an additional 11,100 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.