Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells $59,170.08 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 2,096 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $59,170.08. Following the sale, the chief accounting officer now owns 190,680 shares in the company, valued at approximately $5,382,896.40. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Friday, September 20th, Kong Phan sold 190 shares of Confluent stock. The stock was sold at an average price of $20.12, for a total transaction of $3,822.80.

Confluent Price Performance

Shares of Confluent stock opened at $31.52 on Monday. The stock has a market capitalization of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82. The business has a 50 day simple moving average of $23.35 and a two-hundred day simple moving average of $24.57. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, analysts predict that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on CFLT shares. Citigroup raised their price target on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Baird R W upgraded shares of Confluent to a “hold” rating in a report on Wednesday, September 4th. Barclays increased their price objective on shares of Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Scotiabank lifted their target price on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Institutional Investors Weigh In On Confluent

A number of hedge funds have recently modified their holdings of the company. EP Wealth Advisors LLC raised its position in shares of Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after buying an additional 503 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock valued at $322,000 after purchasing an additional 857 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares during the period. Fulton Bank N.A. increased its position in shares of Confluent by 15.0% during the 2nd quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock worth $241,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Confluent by 9.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock worth $374,000 after purchasing an additional 1,113 shares during the last quarter. Hedge funds and other 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.