Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram Sells 68,350 Shares

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction 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 $18,849,490.79. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

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

Confluent Price Performance

Shares of NASDAQ:CFLT opened at $34.94 on Wednesday. The company has a market capitalization of $11.46 billion, a P/E ratio of -31.48 and a beta of 0.92. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The firm’s 50 day simple moving average is $29.79 and its two-hundred day simple moving average is $25.74. 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 (NASDAQ:CFLT) last released its earnings results 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 net margin of 38.35% and a negative return on equity of 34.05%. Research analysts expect that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. UBS Group raised their price target on shares of Confluent from $26.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Guggenheim increased their target price on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley boosted their price target on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Hedge Funds Weigh In On Confluent

A number of hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC lifted its holdings in Confluent by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock worth $301,000 after purchasing an additional 328 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Confluent by 4.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after buying an additional 458 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Confluent by 3.6% in the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after buying an additional 503 shares in the last quarter. Truist Financial Corp boosted its position in shares of Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock worth $589,000 after acquiring an additional 514 shares during the last quarter. Finally, Jasper Ridge Partners L.P. grew its stake in Confluent by 4.8% during the fourth quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company’s stock valued at $403,000 after acquiring an additional 664 shares in the last quarter. Institutional investors 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.