Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CFO Sells 22,714 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 22,714 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $641,216.22. Following the completion of the sale, the chief financial officer now directly owns 532,623 shares of the company’s stock, valued at $15,035,947.29. The trade was a 4.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Confluent Trading Up 3.0 %

Shares of Confluent stock traded up $0.91 on Friday, reaching $31.52. 5,460,246 shares of the company were exchanged, compared to its average volume of 4,379,470. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of -27.55 and a beta of 0.82. 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 stock has a fifty day moving average price of $23.12 and a 200-day moving average price of $24.62.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. On average, analysts expect that Confluent, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CFLT shares. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of Confluent in a research report on Tuesday, October 29th. Royal Bank of Canada lifted their price objective on shares of Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus decreased their price objective on shares of Confluent from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Piper Sandler dropped their target price on Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Confluent has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Trading of Confluent

A number of hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in Confluent in the 2nd quarter worth about $68,000. Point72 Hong Kong Ltd acquired a new position in shares of Confluent in the 3rd quarter valued at about $68,000. UniSuper Management Pty Ltd lifted its position in shares of Confluent by 125.0% in 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 in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares during the period. Finally, Lazard Asset Management LLC grew its position in Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Company Profile

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.