Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan Sells 3,040 Shares

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,040 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $30.75, for a total value of $93,480.00. Following the completion of the transaction, the chief accounting officer now owns 174,375 shares in the company, valued at $5,362,031.25. The trade was a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 shares were 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 shares were sold at an average price of $31.30, for a total transaction of $389,998.00.

Confluent Stock Up 1.1 %

Confluent stock opened at $30.79 on Thursday. The firm has a 50 day moving average price of $29.86 and a two-hundred day moving average price of $26.21. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of -28.51 and a beta of 0.92.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CFLT. Credit Industriel ET Commercial acquired a new stake in Confluent during the fourth quarter worth approximately $28,000. Blue Trust Inc. boosted its holdings in shares of Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after buying an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Confluent during the 4th quarter worth approximately $59,000. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent during the 3rd quarter worth approximately $68,000. Finally, GAMMA Investing LLC increased its stake in shares of Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after acquiring an additional 1,136 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CFLT has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Guggenheim lifted their target price on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their target price on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Needham & Company LLC raised their price target on shares of Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler upped their price objective on shares of Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.15.

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.