Kong Phan Sells 760 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 760 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $32.00, for a total transaction of $24,320.00. Following the transaction, the chief accounting officer now owns 249,691 shares in the company, valued at approximately $7,990,112. The trade was a 0.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The shares were sold at an average price of $30.75, for a total transaction of $93,480.00.
• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total transaction of $68,781.24.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The stock was sold at an average price of $36.22, for a total transaction of $229,852.12.
• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The stock was sold at an average price of $28.74, for a total transaction of $113,436.78.
• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The stock was sold at an average price of $31.30, for a total transaction of $389,998.00.

Confluent Stock Performance

Shares of CFLT opened at $31.74 on Friday. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The firm has a fifty day simple moving average of $29.96 and a 200 day simple moving average of $26.36. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of -29.39 and a beta of 0.92. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CFLT. Truist Financial upped their target price on shares of Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Bank of America increased their price objective on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. Evercore ISI increased their price objective on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on shares of Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, Piper Sandler increased their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.15.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CFLT. Champlain Investment Partners LLC boosted its holdings in Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after purchasing an additional 4,486,841 shares during the last quarter. Norges Bank acquired a new stake in Confluent in the fourth quarter valued at $81,092,000. Pictet Asset Management Holding SA lifted its stake in Confluent by 7,342.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock valued at $65,748,000 after acquiring an additional 2,319,919 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Confluent in the fourth quarter valued at $64,658,000. Finally, Fiera Capital Corp acquired a new stake in Confluent in the third quarter valued at $21,127,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

About Confluent

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.