Confluent, Inc. (NASDAQ:CFLT) CFO Sells $2,476,320.50 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the sale, the chief financial officer now directly owns 520,273 shares in the company, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rohan Sivaram also recently made the following trade(s):

• On Wednesday, November 20th, Rohan Sivaram sold 22,714 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total transaction of $641,216.22.

Confluent Trading Up 0.3 %

Shares of NASDAQ CFLT opened at $34.94 on Wednesday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The firm has a market cap of $11.46 billion, a PE ratio of -31.48 and a beta of 0.92. The business has a fifty day simple moving average of $29.79 and a two-hundred day simple moving average of $25.74. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data 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 34.05% and a negative net margin of 38.35%. Analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Confluent

Several hedge funds have recently modified their holdings of the business. Champlain Investment Partners LLC raised its stake in Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after buying an additional 4,486,841 shares in the last quarter. Norges Bank purchased a new position in shares of Confluent in the 4th quarter valued at $81,092,000. Pictet Asset Management Holding SA raised its position in shares of Confluent by 7,342.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock worth $65,748,000 after acquiring an additional 2,319,919 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Confluent during the 4th quarter worth $64,658,000. Finally, Fiera Capital Corp bought a new stake in Confluent during the third quarter valued at about $21,127,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Robert W. Baird increased their price target on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their price objective on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. UBS Group raised their price objective on Confluent from $26.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Bank of America lifted their target price on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Confluent has an average rating of “Moderate Buy” and a consensus target price of $35.00.

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.