Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram Sells 68,350 Shares

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rohan Sivaram also recently made the following trade(s):

• On Wednesday, November 20th, Rohan Sivaram sold 22,714 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total transaction of $641,216.22.

Confluent Price Performance

Shares of CFLT traded up $0.09 during mid-day trading on Tuesday, reaching $34.94. 7,129,154 shares of the company’s stock were exchanged, compared to its average volume of 5,441,578. 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, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a market cap of $11.46 billion, a price-to-earnings ratio of -31.48 and a beta of 0.92. The company has a 50-day simple moving average of $29.71 and a two-hundred day simple moving average of $25.63.

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 the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, sell-side analysts predict that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Confluent

A number of hedge funds and other institutional investors have recently modified their holdings of CFLT. Vanguard Group Inc. raised its holdings in Confluent by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock valued at $694,207,000 after acquiring an additional 599,582 shares during the last quarter. Champlain Investment Partners LLC lifted its position in Confluent by 1.3% during the fourth quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company’s stock worth $302,940,000 after buying an additional 133,908 shares during the period. Geode Capital Management LLC boosted its stake in Confluent by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock worth $123,339,000 after buying an additional 84,163 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its stake in Confluent by 18.1% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company’s stock worth $83,880,000 after buying an additional 459,000 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Confluent in the fourth quarter worth approximately $81,092,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CFLT has been the topic of several recent research reports. UBS Group upped their target price on shares of Confluent from $26.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Bank of America upped their price objective on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 12th. Evercore ISI increased their price objective on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and set a $40.00 target price on shares of Confluent in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus upped their price target on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average target price of $35.00.

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.