Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CFO Sells 22,714 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 22,714 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $641,216.22. Following the transaction, the chief financial officer now directly owns 532,623 shares in the company, valued at approximately $15,035,947.29. This represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Confluent Trading Up 3.0 %

NASDAQ:CFLT opened at $31.52 on Friday. The company has a fifty day moving average of $23.35 and a 200-day moving average of $24.64. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Confluent

Hedge funds have recently bought and sold shares of the business. Diversified Trust Co grew its position in Confluent by 110.3% in the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock valued at $1,233,000 after purchasing an additional 31,729 shares during the period. Sycomore Asset Management grew its position in Confluent by 308.3% in the 2nd quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock valued at $9,176,000 after purchasing an additional 251,507 shares during the period. Pathway Capital Management LP acquired a new stake in Confluent in the 3rd quarter valued at $918,000. Sei Investments Co. grew its position in Confluent by 29.1% in the 2nd quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock valued at $9,022,000 after purchasing an additional 68,880 shares during the period. Finally, Creative Planning grew its position in Confluent by 109.9% in the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after purchasing an additional 49,699 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CFLT shares. Truist Financial reaffirmed a “buy” rating and set a $30.00 price target (down from $36.00) on shares of Confluent in a research report on Thursday, August 1st. UBS Group increased their price objective on shares of Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Sanford C. Bernstein reduced their price objective on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Piper Sandler reduced their price objective on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, TD Cowen increased their price objective on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.88.

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.