Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CFO Sells $745,445.90 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 23,605 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.58, for a total transaction of $745,445.90. Following the completion of the transaction, the chief financial officer now owns 497,806 shares in the company, valued at $15,720,713.48. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rohan Sivaram also recently made the following trade(s):

• On Thursday, February 13th, Rohan Sivaram sold 68,350 shares of Confluent stock. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50.

Confluent Trading Up 2.9 %

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 company has a fifty day simple moving average of $29.93 and a two-hundred day simple moving average of $26.24. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The stock has a market cap of $10.39 billion, a P/E ratio of -29.34 and a beta of 0.92.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CFLT shares. Evercore ISI increased their price objective on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Mizuho increased their price objective on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Scotiabank increased their price objective on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group increased their price objective on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.15.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CFLT. Credit Industriel ET Commercial purchased a new position in shares of Confluent during the fourth quarter worth $28,000. Blue Trust Inc. raised its holdings in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Confluent during the fourth quarter worth $59,000. Point72 Hong Kong Ltd acquired a new stake in Confluent during the third quarter valued at $68,000. Finally, GAMMA Investing LLC grew its position in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. 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.