Confluent, Inc. (NASDAQ:CFLT) Short Interest Up 12.2% in January

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 14,460,000 shares, a growth of 12.2% from the January 15th total of 12,890,000 shares. Based on an average daily volume of 4,150,000 shares, the short-interest ratio is currently 3.5 days. Approximately 5.9% of the company's stock are sold short.

Confluent Stock Down 4.7 %

Shares of NASDAQ CFLT traded down $1.53 during trading hours on Friday, hitting $31.01. 7,907,018 shares of the stock were exchanged, compared to its average volume of 5,631,073. The firm has a fifty day moving average price of $29.85 and a 200-day moving average price of $25.84. The company has a market cap of $10.17 billion, a PE ratio of -28.71 and a beta of 0.92. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. Confluent has a 12 month low of $17.79 and a 12 month high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) 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%. On average, sell-side analysts expect that Confluent will post -0.83 EPS for the current year.

Insider Buying and Selling at Confluent

In other news, CAO Kong Phan sold 3,947 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction 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 represents a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew Craig Miller sold 347,646 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $32.69, for a total transaction of $11,364,547.74. Following the sale, the director now owns 22,688 shares in the company, valued at approximately $741,670.72. The trade was a 93.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,140,614 shares of company stock valued at $38,017,784. Corporate insiders own 13.82% of the company's stock.

Institutional Trading of Confluent

Several large investors have recently made changes to their positions in the business. Cache Advisors LLC purchased a new stake in shares of Confluent in the 4th quarter valued at $1,322,000. Neo Ivy Capital Management purchased a new position in Confluent during the fourth quarter valued at $2,088,000. Vident Advisory LLC purchased a new position in Confluent during the fourth quarter valued at $972,000. Tairen Capital Ltd lifted its holdings in Confluent by 45.6% during the fourth quarter. Tairen Capital Ltd now owns 72,798 shares of the company's stock valued at $2,035,000 after purchasing an additional 22,798 shares in the last quarter. Finally, Shay Capital LLC purchased a new position in Confluent during the fourth quarter valued at $419,000. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CFLT has been the topic of several research reports. Piper Sandler raised their target price on shares of Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. TD Cowen raised their price objective on shares of Confluent from $27.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Mizuho lifted their price target on shares of Confluent from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Guggenheim boosted their target price on shares of Confluent from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Confluent from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

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.