Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram Sells 68,350 Shares

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CFO Rohan Sivaram sold 68,350 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the transaction, the chief financial officer now directly owns 520,273 shares of the company's stock, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 20th, Rohan Sivaram sold 22,714 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total value of $641,216.22.

Confluent Stock Performance

NASDAQ CFLT traded down $1.53 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 has a market capitalization of $10.17 billion, a PE ratio of -28.71 and a beta of 0.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The business's fifty day moving average is $29.86 and its 200 day moving average is $25.92. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CFLT shares. Needham & Company LLC raised their price target on Confluent from $31.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Confluent from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. UBS Group upped their price target on shares of Confluent from $26.00 to $34.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Stifel Nicolaus raised their price objective on shares of Confluent from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Sanford C. Bernstein reduced their target price on shares of Confluent from $38.00 to $33.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $35.00.

Institutional Trading of Confluent

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Confluent by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company's stock worth $694,207,000 after acquiring an additional 599,582 shares during the last quarter. Champlain Investment Partners LLC boosted its position in Confluent by 1.3% during the fourth quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company's stock worth $302,940,000 after purchasing an additional 133,908 shares during the period. Geode Capital Management LLC increased its holdings in shares of Confluent by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company's stock valued at $123,339,000 after purchasing an additional 84,163 shares during the last quarter. Jericho Capital Asset Management L.P. raised its position in shares of Confluent by 18.1% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company's stock valued at $83,880,000 after purchasing an additional 459,000 shares during the period. Finally, Norges Bank acquired a new stake in shares of Confluent during the 4th quarter worth about $81,092,000. 78.09% of the stock is owned by institutional investors and hedge funds.

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.