Confluent, Inc. (NASDAQ:CFLT) Short Interest Update

Confluent, Inc. (NASDAQ:CFLT) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 11,850,000 shares, a drop of 14.6% from the December 15th total of 13,880,000 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 3,830,000 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

CFLT has been the topic of a number of research reports. Mizuho raised their price target on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Sanford C. Bernstein dropped their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. TD Cowen upped their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of Confluent from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $31.00 target price on shares of Confluent in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and an average price target of $32.37.

Confluent Trading Down 0.1 %

Shares of CFLT stock traded down $0.04 on Friday, reaching $26.70. 3,761,493 shares of the company’s stock were exchanged, compared to its average volume of 3,136,990. The company’s fifty day simple moving average is $29.62 and its 200 day simple moving average is $24.98. Confluent has a 52 week low of $17.79 and a 52 week high of $35.07. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $8.76 billion, a PE ratio of -24.05 and a beta of 0.91.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, analysts forecast that Confluent will post -0.9 EPS for the current year.

Insider Buying and Selling at Confluent

In other news, Director Michelangelo Volpi sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $25.92, for a total transaction of $1,296,000.00. Following the completion of the transaction, the director now directly owns 280,200 shares of the company’s stock, valued at $7,262,784. The trade was a 15.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Stephanie Buscemi sold 164,123 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $26.24, for a total transaction of $4,306,587.52. Following the completion of the sale, the chief marketing officer now owns 149,644 shares in the company, valued at $3,926,658.56. This represents a 52.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,584,712 shares of company stock worth $132,928,936. Insiders own 13.82% of the company’s stock.

Institutional Investors Weigh In On Confluent

Several large investors have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC raised its stake in shares of Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after acquiring an additional 503 shares in the last quarter. GAMMA Investing LLC grew its stake in Confluent by 85.3% in the fourth 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. Truist Financial Corp increased its holdings in Confluent by 5.3% during the 2nd quarter. Truist Financial Corp now owns 24,420 shares of the company’s stock worth $721,000 after purchasing an additional 1,238 shares during the period. Elo Mutual Pension Insurance Co raised its position in Confluent by 8.4% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,643 shares of the company’s stock valued at $551,000 after purchasing an additional 1,448 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Confluent by 16.0% in the 2nd quarter. ProShare Advisors LLC now owns 13,589 shares of the company’s stock worth $401,000 after buying an additional 1,870 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.