Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan Sells 6,346 Shares

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

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 value of $113,436.78.
• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The shares were sold at an average price of $31.30, for a total value of $389,998.00.
• On Wednesday, November 20th, Kong Phan sold 2,096 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total value of $59,170.08.

Confluent Trading Up 0.3 %

Shares of CFLT stock opened at $34.94 on Wednesday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average price of $29.79 and a two-hundred day moving average price of $25.74. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The firm has a market cap of $11.46 billion, a P/E ratio of -31.48 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) 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%. Equities analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on CFLT shares. UBS Group raised their target price on Confluent from $26.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Needham & Company LLC raised their target price on Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their target price on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. TD Cowen raised their target price on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Scotiabank raised their target price on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Institutional Inflows and Outflows

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

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.