Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan Sells 1,309 Shares

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 1,309 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $24.00, for a total transaction of $31,416.00. Following the sale, the chief accounting officer now owns 243,317 shares of the company’s stock, valued at $5,839,608. This trade represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, May 20th, Kong Phan sold 1,890 shares of Confluent stock. The stock was sold at an average price of $21.83, for a total transaction of $41,258.70.
• On Thursday, March 20th, Kong Phan sold 3,175 shares of Confluent stock. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50.

Confluent Trading Down 0.0%

Shares of CFLT opened at $24.09 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The firm has a 50 day simple moving average of $22.11 and a 200-day simple moving average of $26.76. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of -22.31 and a beta of 0.98.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The firm had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. During the same quarter last year, the business earned $0.05 earnings per share. Confluent’s revenue was up 24.8% compared to the same quarter last year. Equities analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CFLT shares. Scotiabank decreased their target price on shares of Confluent from $35.00 to $24.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Guggenheim decreased their target price on shares of Confluent from $38.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. William Blair reiterated an “outperform” rating on shares of Confluent in a research note on Monday, March 17th. Royal Bank of Canada increased their price target on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Bank of America increased their price target on shares of Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.11.

Hedge Funds Weigh In On Confluent

A number of hedge funds have recently made changes to their positions in CFLT. Credit Industriel ET Commercial purchased a new stake in Confluent during the 4th quarter worth $28,000. Cloud Capital Management LLC purchased a new stake in shares of Confluent during the first quarter worth about $26,000. Versant Capital Management Inc increased its position in shares of Confluent by 2,458.2% during the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company’s stock worth $40,000 after acquiring an additional 1,647 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of Confluent during the first quarter worth about $43,000. Finally, Blue Trust Inc. increased its position in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.