Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 3,947 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,947 shares of Confluent stock in a transaction on Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the sale, the chief accounting officer now directly owns 179,939 shares in the company, valued at $5,171,446.86. This represents a 2.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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.
• 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.

Confluent Stock Down 0.1 %

Shares of CFLT traded down $0.03 during mid-day trading on Monday, reaching $29.95. The company’s stock had a trading volume of 2,320,023 shares, compared to its average volume of 4,346,051. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $35.07. The stock has a market cap of $9.82 billion, a PE ratio of -26.98 and a beta of 0.88. The company’s 50 day moving average is $27.77 and its 200 day moving average is $24.79.

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

Wall Street Analysts Forecast Growth

CFLT has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Confluent in a research note on Friday, November 15th. Barclays increased their price objective on Confluent from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Sanford C. Bernstein lowered their target price on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and a consensus target price of $32.23.

Institutional Investors Weigh In On Confluent

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas purchased a new position in shares of Confluent during the third quarter worth about $7,646,000. Tidal Investments LLC boosted its holdings in shares of Confluent by 521.0% in the third quarter. Tidal Investments LLC now owns 50,545 shares of the company’s stock valued at $1,030,000 after acquiring an additional 42,406 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Confluent by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company’s stock valued at $384,000 after acquiring an additional 3,298 shares during the period. Westside Investment Management Inc. increased its holdings in shares of Confluent by 11,796.1% in the 3rd quarter. Westside Investment Management Inc. now owns 12,253 shares of the company’s stock valued at $250,000 after acquiring an additional 12,150 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Confluent by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.