Kong Phan Sells 2,178 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 2,178 shares of Confluent stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.58, for a total value of $68,781.24. Following the transaction, the chief accounting officer now owns 177,415 shares of the company’s stock, valued at $5,602,765.70. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The stock was sold at an average price of $30.75, for a total value of $93,480.00.
• On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The shares were sold at an average price of $36.22, for a total value 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 stock was sold at an average price of $31.30, for a total transaction of $389,998.00.

Confluent Trading Up 2.9 %

Shares of NASDAQ CFLT opened at $31.69 on Friday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $10.39 billion, a PE ratio of -29.34 and a beta of 0.92. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The stock has a fifty day simple moving average of $29.93 and a 200-day simple moving average of $26.24.

Confluent (NASDAQ:CFLT) last released its 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 net margin of 35.81% and a negative return on equity of 34.70%. On average, equities analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CFLT. Truist Financial lifted their price target on Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their target price on shares of Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price target on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Robert W. Baird boosted their price objective on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Canaccord Genuity Group raised their target price on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.15.

Institutional Investors Weigh In On Confluent

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

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.