Kong Phan Sells 3,040 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,040 shares of Confluent stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $30.75, for a total value of $93,480.00. Following the sale, the chief accounting officer now directly owns 174,375 shares in the company, valued at approximately $5,362,031.25. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 stock was 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 stock was sold at an average price of $28.74, for a total transaction 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 Trading Down 2.1 %

CFLT stock traded down $0.65 during midday trading on Tuesday, hitting $30.44. 5,460,988 shares of the company’s stock were exchanged, compared to its average volume of 5,662,908. Confluent, Inc. has a one year low of $17.79 and a one year 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 company has a market cap of $9.98 billion, a PE ratio of -28.19 and a beta of 0.92. The stock’s fifty day moving average price is $29.86 and its 200-day moving average price is $26.10.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CFLT. Credit Industriel ET Commercial acquired a new position in Confluent during the fourth quarter worth about $28,000. Blue Trust Inc. boosted its holdings in shares of Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Confluent during the 4th quarter worth $59,000. GAMMA Investing LLC increased its holdings in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Confluent in the third quarter valued at about $68,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the topic of several recent research reports. Evercore ISI raised their price target on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Stifel Nicolaus increased their price objective on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Truist Financial lifted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.00.

About Confluent

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.