Rohan Sivaram Sells 29,996 Shares of Confluent (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 29,996 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $30.67, for a total value of $919,977.32. Following the completion of the transaction, the chief financial officer directly owned 531,971 shares of the company’s stock, valued at $16,315,550.57. This represents a 5.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, February 20th, Rohan Sivaram sold 21,503 shares of Confluent stock. The stock was sold at an average price of $30.70, for a total transaction of $660,142.10.

Confluent Trading Down 0.1%

Shares of NASDAQ CFLT opened at $30.67 on Friday. The firm has a 50 day moving average price of $30.56 and a two-hundred day moving average price of $25.89. The stock has a market cap of $10.97 billion, a P/E ratio of -35.66 and a beta of 0.95. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $30.81. 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 issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $314.82 million for the quarter, compared to analysts’ expectations of $308.03 million. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. Confluent’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, equities analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

CFLT has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Confluent in a research note on Monday, December 29th. Truist Financial set a $31.00 target price on shares of Confluent in a research report on Monday, December 8th. Robert W. Baird raised their price target on shares of Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. Raymond James Financial downgraded shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. Finally, Citizens Jmp cut shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.71.

Hedge Funds Weigh In On Confluent

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in shares of Confluent by 9.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,938 shares of the company’s stock worth $149,000 after buying an additional 432 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Confluent by 0.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 86,929 shares of the company’s stock valued at $2,629,000 after acquiring an additional 452 shares in the last quarter. Utah Retirement Systems lifted its position in shares of Confluent by 4.7% during the 4th quarter. Utah Retirement Systems now owns 15,320 shares of the company’s stock valued at $463,000 after acquiring an additional 688 shares during the period. Xponance Inc. lifted its position in shares of Confluent by 1.8% during the 3rd quarter. Xponance Inc. now owns 40,399 shares of the company’s stock valued at $800,000 after acquiring an additional 723 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in Confluent by 8.7% during the third quarter. Perigon Wealth Management LLC now owns 10,775 shares of the company’s stock worth $213,000 after acquiring an additional 866 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

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.