Rohan Sivaram Sells 22,926 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 22,926 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $497,035.68. Following the completion of the transaction, the chief financial officer now owns 555,337 shares of the company’s stock, valued at approximately $12,039,706.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, June 20th, Rohan Sivaram sold 858 shares of Confluent stock. The shares were sold at an average price of $26.76, for a total value of $22,960.08.

Confluent Stock Performance

NASDAQ CFLT opened at $21.36 on Friday. The firm has a market capitalization of $6.79 billion, a P/E ratio of -17.09 and a beta of 0.91. Confluent, Inc. has a 1-year low of $14.69 and a 1-year high of $35.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07. The business’s 50-day simple moving average is $24.82 and its 200-day simple moving average is $28.28.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $234.99 million during the quarter, compared to analyst estimates of $229.49 million. Confluent had a negative net margin of 42.70% and a negative return on equity of 38.46%. Equities analysts predict that Confluent, Inc. will post -0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank dropped their price target on Confluent from $28.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price target on Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Canaccord Genuity Group dropped their price target on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. TD Cowen dropped their price target on Confluent from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and set a $30.00 price objective (down previously from $36.00) on shares of Confluent in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and an average target price of $30.96.

Hedge Funds Weigh In On Confluent

Several hedge funds and other institutional investors have recently modified their holdings of CFLT. Vanguard Group Inc. lifted its position in Confluent by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock worth $602,505,000 after acquiring an additional 669,675 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Confluent by 17.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after acquiring an additional 2,587,169 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Confluent by 28.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after acquiring an additional 1,684,100 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Confluent during the 2nd quarter worth approximately $193,403,000. Finally, Coatue Management LLC acquired a new position in Confluent during the 4th quarter worth approximately $134,132,000. 78.09% of the stock is owned by institutional investors and hedge funds.

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.