Confluent (NASDAQ:CFLT) CRO Sells $353,571.90 in Stock

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 11,517 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $30.70, for a total value of $353,571.90. Following the completion of the transaction, the executive owned 378,646 shares in the company, valued at approximately $11,624,432.20. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ban Ryan Norris Mac also recently made the following trade(s):

• On Tuesday, February 24th, Ban Ryan Norris Mac sold 19,756 shares of Confluent stock. The shares were sold at an average price of $30.66, for a total transaction of $605,718.96.
• On Wednesday, February 18th, Ban Ryan Norris Mac sold 2,113 shares of Confluent stock. The stock was sold at an average price of $30.61, for a total transaction of $64,678.93.
• On Friday, February 13th, Ban Ryan Norris Mac sold 1,655 shares of Confluent stock. The shares were sold at an average price of $30.54, for a total transaction of $50,543.70.
• On Tuesday, December 23rd, Ban Ryan Norris Mac sold 3,053 shares of Confluent stock. The stock was sold at an average price of $29.96, for a total transaction of $91,467.88.
• On Monday, December 22nd, Ban Ryan Norris Mac sold 1,218 shares of Confluent stock. The stock was sold at an average price of $29.96, for a total transaction of $36,491.28.
• On Monday, December 8th, Ban Ryan Norris Mac sold 44,114 shares of Confluent stock. The shares were sold at an average price of $29.77, for a total value of $1,313,273.78.

Confluent Stock Down 0.2%

CFLT traded down $0.06 during midday trading on Tuesday, reaching $30.63. 10,891,518 shares of the company were exchanged, compared to its average volume of 19,063,820. The company has a market cap of $10.95 billion, a price-to-earnings ratio of -35.62 and a beta of 0.95. Confluent, Inc. has a one year low of $15.64 and a one year high of $33.00. The company’s fifty day moving average price is $30.39 and its 200 day moving average price is $24.73. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The company had revenue of $314.82 million for the quarter, compared to analysts’ expectations of $308.03 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Confluent’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on CFLT. William Blair lowered shares of Confluent from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. FBN Securities reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Confluent in a research report on Tuesday, October 28th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $31.00 price objective on shares of Confluent in a research note on Monday, December 8th. Raymond James Financial cut shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. Finally, Barclays upped their target price on Confluent from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.71.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CFLT. Goldman Sachs Group Inc. grew its holdings in Confluent by 133.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 942,303 shares of the company’s stock valued at $22,088,000 after buying an additional 537,874 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Confluent in the first quarter worth about $332,000. AlphaQuest LLC boosted its position in shares of Confluent by 21.7% in the second quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock valued at $116,000 after acquiring an additional 826 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Confluent by 2.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 90,063 shares of the company’s stock valued at $2,245,000 after acquiring an additional 2,406 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in Confluent during the second quarter valued at approximately $374,000. Institutional investors own 78.09% of the company’s stock.

About Confluent

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.