Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CAO Sells 6,346 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CAO Kong Phan sold 6,346 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $229,852.12. Following the completion of the transaction, the chief accounting officer now owns 179,593 shares in the company, valued at approximately $6,504,858.46. This represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, December 20th, Kong Phan sold 3,947 shares of Confluent stock. The shares were sold at an average price of $28.74, for a total value of $113,436.78.
• 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 Stock Performance

Shares of NASDAQ:CFLT traded down $1.53 during trading on Friday, hitting $31.01. 8,023,704 shares of the stock were exchanged, compared to its average volume of 5,634,724. The company's fifty day simple moving average is $29.86 and its 200-day simple moving average is $25.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of -28.71 and a beta of 0.92. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly 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 net margin of 35.81% and a negative return on equity of 34.70%. Sell-side analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

CFLT has been the topic of a number of research reports. Barclays increased their price objective on Confluent from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Truist Financial increased their price target on shares of Confluent from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Piper Sandler upped their price objective on shares of Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Morgan Stanley raised their target price on Confluent from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Finally, Bank of America upped their price target on Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CFLT. Cache Advisors LLC acquired a new stake in Confluent during the fourth quarter valued at approximately $1,322,000. Neo Ivy Capital Management bought a new position in shares of Confluent during the 4th quarter worth approximately $2,088,000. Vident Advisory LLC acquired a new stake in Confluent in the 4th quarter valued at $972,000. Tairen Capital Ltd grew its position in Confluent by 45.6% in the fourth quarter. Tairen Capital Ltd now owns 72,798 shares of the company's stock valued at $2,035,000 after acquiring an additional 22,798 shares during the period. Finally, Shay Capital LLC acquired a new position in Confluent during the fourth quarter worth $419,000. Institutional investors and hedge funds 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.