Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 3,175 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,175 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $26.86, for a total transaction of $85,280.50. Following the completion of the transaction, the chief accounting officer now directly owns 246,516 shares in the company, valued at $6,621,419.76. The trade was a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, February 26th, Kong Phan sold 760 shares of Confluent stock. The shares were sold at an average price of $32.00, for a total transaction of $24,320.00.
• On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The stock was sold at an average price of $30.75, for a total value of $93,480.00.
• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value 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 value of $229,852.12.

Confluent Trading Up 3.0 %

Shares of CFLT stock traded up $0.80 on Monday, hitting $27.30. The company had a trading volume of 3,958,094 shares, compared to its average volume of 4,305,989. Confluent, Inc. has a twelve month low of $17.79 and a twelve month 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. The firm has a market cap of $9.12 billion, a P/E ratio of -25.28 and a beta of 0.90. The stock’s 50-day moving average is $29.46 and its two-hundred day moving average is $27.03.

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 35.81% and a negative return on equity of 34.70%. On average, equities research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CFLT. Truist Financial lifted their target price on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. William Blair reiterated an “outperform” rating on shares of Confluent in a research note on Monday, March 17th. Stifel Nicolaus increased their target price on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Barclays raised their target price on shares of Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. boosted their price target on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Institutional Trading of Confluent

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Confluent by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after purchasing an additional 64,926 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Confluent by 28.1% during the 3rd quarter. Cerity Partners LLC now owns 35,129 shares of the company’s stock worth $716,000 after buying an additional 7,705 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Confluent during the 3rd quarter worth approximately $1,775,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Confluent in the 3rd quarter valued at $2,535,000. Finally, Qsemble Capital Management LP lifted its position in shares of Confluent by 195.7% during the 3rd quarter. Qsemble Capital Management LP now owns 118,994 shares of the company’s stock valued at $2,425,000 after acquiring an additional 78,746 shares during the period. 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.