Confluent, Inc. (NASDAQ:CFLT) Short Interest Down 14.6% in January

Confluent, Inc. (NASDAQ:CFLT) saw a significant decrease in short interest in January. As of January 15th, there was short interest totalling 11,850,000 shares, a decrease of 14.6% from the December 31st total of 13,880,000 shares. Approximately 4.8% of the shares of the stock are sold short. Based on an average daily volume of 3,830,000 shares, the short-interest ratio is presently 3.1 days.

Insider Activity

In other Confluent news, CMO Stephanie Buscemi sold 5,271 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $148,800.33. Following the transaction, the chief marketing officer now directly owns 144,373 shares in the company, valued at approximately $4,075,649.79. This represents a 3.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michelangelo Volpi sold 477,952 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $26.41, for a total transaction of $12,622,712.32. Following the completion of the transaction, the director now directly owns 317,079 shares of the company’s stock, valued at approximately $8,374,056.39. This represents a 60.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,370,589 shares of company stock worth $127,326,348 over the last ninety days. 13.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Confluent

Institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co raised its holdings in shares of Confluent by 110.3% in the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after purchasing an additional 31,729 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Confluent by 1,465.6% in the third quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock valued at $617,000 after buying an additional 28,360 shares in the last quarter. Pathway Capital Management LP acquired a new stake in shares of Confluent during the 3rd quarter valued at $918,000. Charles Schwab Investment Management Inc. boosted its stake 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 worth $46,549,000 after acquiring an additional 64,926 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Confluent by 109.9% in the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after acquiring an additional 49,699 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Stock Performance

CFLT stock opened at $29.50 on Friday. The company has a 50-day simple moving average of $29.71 and a 200 day simple moving average of $25.03. The company has a market capitalization of $9.68 billion, a P/E ratio of -26.58 and a beta of 0.91. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent has a fifty-two week low of $17.79 and a fifty-two week high of $35.07.

Confluent (NASDAQ:CFLT) last posted 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. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Sell-side analysts predict that Confluent will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CFLT has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Wells Fargo & Company upped their target price on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Barclays lifted their price target on shares of Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Truist Financial increased their target price on Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada boosted their target price on shares of Confluent from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Confluent presently has an average rating of “Moderate Buy” and a consensus price target of $32.37.

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.