Insider Selling: Confluent (NASDAQ:CFLT) CRO Sells $64,678.93 in Stock

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 2,113 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $30.61, for a total transaction of $64,678.93. Following the sale, the executive owned 390,163 shares of the company’s stock, valued at approximately $11,942,889.43. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• 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 value of $50,543.70.
• On Tuesday, December 23rd, Ban Ryan Norris Mac sold 3,053 shares of Confluent stock. The shares were sold at an average price of $29.96, for a total value of $91,467.88.
• On Monday, December 22nd, Ban Ryan Norris Mac sold 1,218 shares of Confluent stock. The shares were 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 transaction of $1,313,273.78.
• On Thursday, November 20th, Ban Ryan Norris Mac sold 15,062 shares of Confluent stock. The shares were sold at an average price of $22.51, for a total transaction of $339,045.62.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $30.70 on Friday. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $33.00. The stock has a market capitalization of $10.74 billion, a P/E ratio of -35.70 and a beta of 0.95. The company’s 50-day moving average is $30.37 and its 200 day moving average is $24.43. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.83 and a quick ratio of 3.83.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 earnings per share 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 business had revenue of $314.82 million for the quarter, compared to analysts’ expectations of $308.03 million. During the same period in the previous year, the firm posted $0.09 EPS. The business’s revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in Confluent during the third quarter valued at about $26,000. United Community Bank purchased a new stake in shares of Confluent during the fourth quarter worth about $30,000. Danske Bank A S bought a new stake in Confluent during the 3rd quarter valued at approximately $34,000. True Wealth Design LLC purchased a new position in Confluent in the 3rd quarter worth approximately $36,000. Finally, Los Angeles Capital Management LLC bought a new position in Confluent in the 4th quarter worth approximately $36,000. Institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CFLT shares. DA Davidson reiterated a “neutral” rating and issued a $31.00 price target (up from $29.00) on shares of Confluent in a research note on Monday, December 8th. William Blair lowered Confluent from an “outperform” rating to a “market perform” rating in a research report on Monday, December 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $31.00 target price on shares of Confluent in a report on Monday, December 8th. Truist Financial set a $31.00 target price on shares of Confluent in a research report on Monday, December 8th. Finally, Oppenheimer cut shares of Confluent from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. One 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 stock. According to data from MarketBeat.com, Confluent presently has a consensus rating of “Hold” and an average price target of $28.71.

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.