Confluent, Inc. (NASDAQ:CFLT) CFO Sells $745,445.90 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 23,605 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $745,445.90. Following the completion of the sale, the chief financial officer now owns 497,806 shares of the company’s stock, valued at approximately $15,720,713.48. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, February 13th, Rohan Sivaram sold 68,350 shares of Confluent stock. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50.

Confluent Stock Down 2.1 %

CFLT traded down $0.65 on Tuesday, hitting $30.44. The company had a trading volume of 5,460,988 shares, compared to its average volume of 5,662,908. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of -28.19 and a beta of 0.92. 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 stock has a fifty day moving average price of $29.86 and a 200-day moving average price of $26.10.

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

Institutional Investors Weigh In On Confluent

A number of large investors have recently modified their holdings of CFLT. Champlain Investment Partners LLC grew its stake in shares of Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after acquiring an additional 4,486,841 shares during the last quarter. Norges Bank acquired a new stake in shares of Confluent during the fourth quarter worth about $81,092,000. Pictet Asset Management Holding SA lifted its holdings in shares of Confluent by 7,342.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock worth $65,748,000 after purchasing an additional 2,319,919 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Confluent during the fourth quarter worth about $64,658,000. Finally, Fiera Capital Corp acquired a new stake in shares of Confluent during the third quarter worth about $21,127,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays lifted their target price on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Truist Financial lifted their target price on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus lifted their target price on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Mizuho lifted their target price on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Evercore ISI lifted their target price on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.