Rohan Sivaram Sells 21,503 Shares of Confluent (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 21,503 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $30.70, for a total transaction of $660,142.10. Following the completion of the transaction, the chief financial officer directly owned 561,966 shares of the company’s stock, valued at approximately $17,252,356.20. This represents a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, December 8th, Rohan Sivaram sold 3,000 shares of Confluent stock. The stock was sold at an average price of $29.84, for a total value of $89,520.00.
• On Monday, December 1st, Rohan Sivaram sold 8,000 shares of Confluent stock. The stock was sold at an average price of $22.12, for a total value of $176,960.00.

Confluent Trading Down 0.2%

Confluent stock traded down $0.06 during trading on Tuesday, reaching $30.63. The company had a trading volume of 10,891,518 shares, compared to its average volume of 19,063,820. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of -35.62 and a beta of 0.95. The stock’s 50 day moving average price is $30.39 and its two-hundred day moving average price is $24.73. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $33.00. 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 released its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $314.82 million during the quarter, compared to the consensus estimate of $308.03 million. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. As a group, equities analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CFLT has been the subject of several analyst reports. Needham & Company LLC downgraded shares of Confluent from a “buy” rating to a “hold” rating in a research note on Monday, December 8th. Canaccord Genuity Group downgraded Confluent from a “buy” rating to a “hold” rating and boosted their price target for the company from $27.00 to $31.00 in a report on Monday, December 8th. The Goldman Sachs Group raised their target price on shares of Confluent from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft set a $31.00 target price on Confluent and gave the company a “hold” rating in a research note on Monday, December 8th. Finally, TD Cowen reiterated a “hold” rating on shares of Confluent in a research 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 given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Confluent presently has a consensus rating of “Hold” and a consensus target price of $28.71.

Hedge Funds Weigh In On Confluent

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. United Community Bank purchased a new position in shares of Confluent during the fourth quarter valued at $30,000. Los Angeles Capital Management LLC acquired a new stake in Confluent in the fourth quarter valued at approximately $36,000. Quarry LP acquired a new stake in shares of Confluent in the 3rd quarter valued at $26,000. Leonteq Securities AG bought a new stake in shares of Confluent during the 4th quarter worth about $48,000. Finally, Danske Bank A S bought a new stake in Confluent during the third quarter worth approximately $34,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

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.