Kong Phan Sells 3,947 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 3,947 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $28.74, for a total value of $113,436.78. Following the sale, the chief accounting officer now owns 179,939 shares in the company, valued at $5,171,446.86. This trade represents a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Kong Phan also recently made the following trade(s):

• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The stock was sold at an average price of $31.30, for a total value of $389,998.00.
• On Wednesday, November 20th, Kong Phan sold 2,096 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $59,170.08.

Confluent Price Performance

CFLT stock opened at $29.95 on Tuesday. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of -26.98 and a beta of 0.88. The business has a fifty day moving average of $27.77 and a two-hundred day moving average of $24.79.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. As a group, research analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On Confluent

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas acquired a new stake in Confluent in the 3rd quarter valued at approximately $7,646,000. Tidal Investments LLC boosted its position in shares of Confluent by 521.0% during the third quarter. Tidal Investments LLC now owns 50,545 shares of the company’s stock worth $1,030,000 after buying an additional 42,406 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Confluent by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company’s stock valued at $384,000 after buying an additional 3,298 shares in the last quarter. Westside Investment Management Inc. raised its holdings in shares of Confluent by 11,796.1% in the 3rd quarter. Westside Investment Management Inc. now owns 12,253 shares of the company’s stock valued at $250,000 after buying an additional 12,150 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Confluent by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock worth $88,180,000 after acquiring an additional 107,510 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CFLT has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on shares of Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Evercore ISI cut their target price on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Baird R W raised shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Sanford C. Bernstein cut their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their target price on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and a consensus target price of $32.23.

Confluent Company Profile

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.