Confluent, Inc. (NASDAQ:CFLT) CFO Sells $497,035.68 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 22,926 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

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

Confluent Stock Up 0.4 %

Shares of CFLT stock opened at $21.36 on Friday. The stock’s fifty day moving average price is $24.69 and its 200 day moving average price is $28.30. Confluent, Inc. has a 1-year low of $14.69 and a 1-year high of $35.22. The company has a market cap of $6.79 billion, a price-to-earnings ratio of -17.09 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative return on equity of 38.46% and a negative net margin of 42.70%. The business had revenue of $234.99 million for the quarter, compared to analysts’ expectations of $229.49 million. On average, research analysts expect that Confluent, Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Confluent

Several large investors have recently bought and sold shares of CFLT. Panagora Asset Management Inc. acquired a new stake in shares of Confluent during the fourth quarter worth $745,000. Norges Bank acquired a new stake in Confluent during the 4th quarter worth about $37,046,000. Victory Capital Management Inc. grew its stake in Confluent by 20.2% during the 4th quarter. Victory Capital Management Inc. now owns 561,497 shares of the company’s stock valued at $13,139,000 after purchasing an additional 94,405 shares during the last quarter. AGF Management Ltd. acquired a new position in shares of Confluent in the fourth quarter valued at about $3,537,000. Finally, Highland Capital Management LLC purchased a new position in shares of Confluent in the first quarter worth about $1,181,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CFLT. Truist Financial reiterated a “buy” rating and issued a $30.00 target price (down previously from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Stifel Nicolaus decreased their price objective on shares of Confluent from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Piper Sandler lowered their price objective on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Guggenheim reiterated a “buy” rating and issued a $37.00 price target on shares of Confluent in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued 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.

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.