Confluent, Inc. (NASDAQ:CFLT) CAO Sells $83,976.75 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,575 shares of the business’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $23.49, for a total transaction of $83,976.75. Following the transaction, the chief accounting officer now owns 239,742 shares of the company’s stock, valued at $5,631,539.58. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, June 5th, Kong Phan sold 1,309 shares of Confluent stock. The shares were sold at an average price of $24.00, for a total transaction of $31,416.00.
• On Tuesday, May 20th, Kong Phan sold 1,890 shares of Confluent stock. The shares were sold at an average price of $21.83, for a total transaction of $41,258.70.

Confluent Price Performance

Confluent stock opened at $23.89 on Thursday. The firm has a market cap of $8.13 billion, a PE ratio of -24.38 and a beta of 0.98. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $22.61 and its two-hundred day moving average is $26.21.

Confluent (NASDAQ:CFLT) last released 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. The company had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. Confluent had a negative net margin of 31.42% and a negative return on equity of 29.92%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. On average, research analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Confluent

A number of hedge funds have recently added to or reduced their stakes in CFLT. Principal Financial Group Inc. lifted its holdings in Confluent by 1,617.4% during the 4th quarter. Principal Financial Group Inc. now owns 358,595 shares of the company’s stock worth $10,026,000 after buying an additional 337,715 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Confluent by 37.6% in the 4th quarter. Sanctuary Advisors LLC now owns 25,910 shares of the company’s stock valued at $764,000 after purchasing an additional 7,085 shares during the last quarter. Truist Financial Corp increased its position in shares of Confluent by 2.5% in the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after purchasing an additional 514 shares during the last quarter. Ieq Capital LLC increased its position in shares of Confluent by 155.4% in the 4th quarter. Ieq Capital LLC now owns 80,889 shares of the company’s stock valued at $2,262,000 after purchasing an additional 49,214 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Confluent by 57.2% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 48,923 shares of the company’s stock valued at $1,368,000 after purchasing an additional 17,803 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on CFLT. Oppenheimer decreased their target price on shares of Confluent from $35.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Evercore ISI decreased their target price on shares of Confluent from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on shares of Confluent from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC decreased their target price on shares of Confluent from $40.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, 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 report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average target price of $30.11.

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.