Confluent, Inc. (NASDAQ:CFLT – Get Free Report) 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.
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.
Check Out Our Latest Research Report on CFLT
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.
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