Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells $389,998.00 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 12,460 shares of Confluent stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.30, for a total transaction of $389,998.00. Following the transaction, the chief accounting officer now directly owns 183,886 shares of the company’s stock, valued at approximately $5,755,631.80. This trade represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kong Phan also recently made the following trade(s):

• On Wednesday, November 20th, Kong Phan sold 2,096 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total transaction of $59,170.08.
• On Friday, September 20th, Kong Phan sold 190 shares of Confluent stock. The shares were sold at an average price of $20.12, for a total transaction of $3,822.80.

Confluent Stock Performance

NASDAQ:CFLT opened at $29.46 on Thursday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock’s 50-day simple moving average is $27.49 and its 200 day simple moving average is $24.75. The firm has a market capitalization of $9.66 billion, a PE ratio of -26.54 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial boosted their price objective on Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. DA Davidson reissued a “buy” rating and set a $30.00 price target on shares of Confluent in a report on Wednesday, September 18th. Mizuho upped their price objective on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. UBS Group lifted their target price on Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup upped their price target on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average price target of $32.23.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently modified their holdings of CFLT. Assenagon Asset Management S.A. lifted its stake in shares of Confluent by 9.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock valued at $374,000 after acquiring an additional 1,113 shares during the last quarter. Baillie Gifford & Co. raised its position in Confluent by 1.0% in the second quarter. Baillie Gifford & Co. now owns 447,958 shares of the company’s stock valued at $13,228,000 after purchasing an additional 4,283 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Confluent by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock valued at $103,665,000 after purchasing an additional 1,316,804 shares in the last quarter. Liontrust Investment Partners LLP grew its holdings in shares of Confluent by 117.9% during the second quarter. Liontrust Investment Partners LLP now owns 305,000 shares of the company’s stock worth $9,007,000 after purchasing an additional 165,000 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Confluent by 10.5% in the second quarter. Principal Financial Group Inc. now owns 215,464 shares of the company’s stock valued at $6,363,000 after buying an additional 20,504 shares during the period. 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.