Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 760 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 760 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $32.00, for a total transaction of $24,320.00. Following the completion of the sale, the chief accounting officer now owns 249,691 shares in the company, valued at $7,990,112. This represents a 0.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The shares were sold at an average price of $30.75, for a total transaction of $93,480.00.
• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The shares were sold at an average price of $31.58, for a total transaction of $68,781.24.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The shares were sold at an average price of $36.22, for a total transaction of $229,852.12.
• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The shares were sold at an average price of $28.74, for a total value of $113,436.78.
• 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 value of $389,998.00.

Confluent Price Performance

Shares of CFLT opened at $31.74 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock has a 50 day simple moving average of $29.96 and a 200 day simple moving average of $26.32. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The firm has a market capitalization of $10.41 billion, a PE ratio of -29.39 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last released its quarterly 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 return on equity of 34.70% and a negative net margin of 35.81%. Sell-side analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Confluent

Large investors have recently bought and sold shares of the company. Credit Industriel ET Commercial acquired a new position in Confluent during the 4th quarter worth approximately $28,000. Blue Trust Inc. boosted its position in Confluent by 354.0% during the 4th 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. SBI Securities Co. Ltd. acquired a new position in Confluent during the 4th quarter worth approximately $59,000. Point72 Hong Kong Ltd acquired a new position in Confluent during the 3rd quarter worth approximately $68,000. Finally, GAMMA Investing LLC boosted its position in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after acquiring an additional 1,136 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analysts Set New Price Targets

CFLT has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price target on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Bank of America lifted their price target on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. Barclays boosted their price objective on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, UBS Group raised Confluent from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $38.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.15.

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.