Confluent, Inc. (NASDAQ:CFLT) CFO Sells $72,000.00 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 3,000 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $24.00, for a total value of $72,000.00. Following the completion of the sale, the chief financial officer now directly owns 662,693 shares in the company, valued at $15,904,632. This represents a 0.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, June 2nd, Rohan Sivaram sold 8,000 shares of Confluent stock. The shares were sold at an average price of $22.86, for a total value of $182,880.00.
• On Tuesday, May 20th, Rohan Sivaram sold 27,710 shares of Confluent stock. The shares were sold at an average price of $21.83, for a total value of $604,909.30.

Confluent Stock Performance

Shares of CFLT stock opened at $24.09 on Thursday. The stock has a fifty day moving average price of $22.11 and a 200 day moving average price of $26.76. The stock has a market cap of $8.20 billion, a PE ratio of -22.31 and a beta of 0.98. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. 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 (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $271.12 million during the quarter, compared to analysts’ expectations of $264.45 million. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Confluent’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. Sell-side analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Confluent

Institutional investors have recently made changes to their positions in the stock. Cloud Capital Management LLC acquired a new position in shares of Confluent in the first quarter worth $26,000. Credit Industriel ET Commercial acquired a new position in shares of Confluent in the fourth quarter worth $28,000. Versant Capital Management Inc raised its holdings in shares of Confluent by 2,458.2% in 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 acquired a new position in shares of Confluent in the first quarter worth $43,000. Finally, SVB Wealth LLC acquired a new position in shares of Confluent in the first quarter worth $54,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CFLT shares. Raymond James started coverage on Confluent in a research report on Friday, April 11th. They set an “outperform” rating and a $30.00 target price on the stock. Scotiabank cut their target price on Confluent from $35.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Truist Financial cut their target price on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. DA Davidson cut their target price on Confluent from $42.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Needham & Company LLC cut their target price on Confluent from $40.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average price target of $30.11.

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.