Confluent, Inc. (NASDAQ:CFLT) CFO Sells $2,476,320.50 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 68,350 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, November 20th, Rohan Sivaram sold 22,714 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $641,216.22.

Confluent Price Performance

CFLT opened at $32.54 on Friday. The stock’s 50-day moving average price is $29.85 and its 200 day moving average price is $25.84. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of -30.13 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last posted its 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 35.45% and a negative net margin of 35.81%. As a group, sell-side analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CFLT. Morgan Stanley increased their price objective on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. UBS Group upped their target price on Confluent from $26.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Evercore ISI upped their target price on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus upped their target price on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Hedge Funds Weigh In On Confluent

Several hedge funds have recently bought and sold shares of the company. Champlain Investment Partners LLC raised its position in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after purchasing an additional 4,486,841 shares in the last quarter. Norges Bank acquired a new stake in Confluent in the 4th quarter valued at about $81,092,000. Pictet Asset Management Holding SA raised its position in Confluent by 7,342.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock valued at $65,748,000 after purchasing an additional 2,319,919 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Confluent in the 4th quarter valued at about $64,658,000. Finally, Fiera Capital Corp acquired a new stake in Confluent in the 3rd quarter valued at about $21,127,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.