Kong Phan Sells 2,096 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 2,096 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $59,170.08. Following the transaction, the chief accounting officer now directly owns 190,680 shares of the company’s stock, valued at $5,382,896.40. This trade represents a 1.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, September 20th, Kong Phan sold 190 shares of Confluent stock. The shares were sold at an average price of $20.12, for a total transaction of $3,822.80.

Confluent Price Performance

Shares of NASDAQ CFLT traded up $0.91 during trading on Friday, hitting $31.52. The company had a trading volume of 5,460,246 shares, compared to its average volume of 4,379,470. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The business’s 50-day moving average is $23.12 and its 200 day moving average is $24.62. The company has a market cap of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Equities research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on CFLT shares. Wolfe Research upgraded Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Confluent in a report on Friday, November 15th. Sanford C. Bernstein decreased their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Mizuho boosted their price objective on shares of Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird raised their target price on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Confluent during the second quarter valued at $68,000. UniSuper Management Pty Ltd boosted its holdings in shares of Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after purchasing an additional 1,500 shares during the period. Advisors Asset Management Inc. grew its position in Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Confluent in the 3rd quarter valued at approximately $68,000. Finally, Lazard Asset Management LLC lifted its position in Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after buying an additional 1,167 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.