Kong Phan Sells 3,040 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,040 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $30.75, for a total transaction of $93,480.00. Following the sale, the chief accounting officer now owns 174,375 shares of the company’s stock, valued at approximately $5,362,031.25. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value of $68,781.24.
• 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 transaction of $229,852.12.
• 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 stock was sold at an average price of $31.30, for a total transaction of $389,998.00.

Confluent Stock Performance

Shares of Confluent stock opened at $31.69 on Friday. 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 firm has a market cap of $10.39 billion, a PE ratio of -29.34 and a beta of 0.92. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The firm’s 50-day simple moving average is $29.93 and its 200-day simple moving average is $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%. Equities analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CFLT has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Robert W. Baird raised their target price on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI lifted their price target on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler boosted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus boosted their target price on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its holdings in shares of Confluent by 109.9% during the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after buying an additional 49,699 shares during the last quarter. US Bancorp DE boosted its stake in shares of Confluent by 307.7% during the 3rd quarter. US Bancorp DE now owns 16,702 shares of the company’s stock worth $340,000 after acquiring an additional 12,605 shares in the last quarter. Janney Capital Management LLC raised its holdings in Confluent by 52.2% during the 3rd quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock worth $406,000 after buying an additional 6,842 shares during the period. Fiera Capital Corp acquired a new stake in shares of Confluent during the third quarter valued at approximately $21,127,000. Finally, SpiderRock Advisors LLC lifted its holdings in shares of Confluent by 323.7% in the third quarter. SpiderRock Advisors LLC now owns 264,038 shares of the company’s stock valued at $5,381,000 after purchasing an additional 201,721 shares in the last quarter. Institutional investors and hedge funds 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.