Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 6,346 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 6,346 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $229,852.12. Following the completion of the sale, the chief accounting officer now owns 179,593 shares in the company, valued at approximately $6,504,858.46. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The shares were 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 stock was sold at an average price of $31.30, for a total transaction of $389,998.00.
• On Wednesday, November 20th, Kong Phan sold 2,096 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $59,170.08.

Confluent Stock Up 0.3 %

Shares of CFLT stock traded up $0.09 on Tuesday, reaching $34.94. 7,129,154 shares of the company were exchanged, compared to its average volume of 5,441,578. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The company has a 50-day moving average of $29.71 and a 200-day moving average of $25.63. The company has a market cap of $11.46 billion, a price-to-earnings ratio of -31.48 and a beta of 0.92. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90.

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 analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current year.

Institutional Trading of Confluent

Several institutional investors and hedge funds have recently modified their holdings of CFLT. Credit Industriel ET Commercial purchased a new position in Confluent during the fourth quarter worth about $28,000. Blue Trust Inc. increased its position 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 purchasing an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Confluent during the 4th quarter worth $59,000. Point72 Hong Kong Ltd purchased a new position in shares of Confluent in the 3rd quarter worth about $68,000. Finally, GAMMA Investing LLC grew its position in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CFLT has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Bank of America raised their price objective on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. Royal Bank of Canada lifted their target price on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler upped their price target on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and a consensus price target 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.