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

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

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

• On Thursday, December 12th, Kong Phan sold 12,460 shares of Confluent stock. The shares were sold at an average price of $31.30, for a total transaction 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 transaction of $59,170.08.

Confluent Stock Performance

Shares of NASDAQ:CFLT traded down $0.03 during trading hours on Monday, hitting $29.95. The stock had a trading volume of 2,320,023 shares, compared to its average volume of 4,346,051. The stock's fifty day simple moving average is $27.77 and its 200 day simple moving average is $24.79. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of -26.98 and a beta of 0.88. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $243.98 million. Sell-side analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Confluent

Hedge funds and other institutional investors have recently modified their holdings of the stock. Diversified Trust Co raised its position in shares of Confluent by 110.3% during the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company's stock worth $1,233,000 after buying an additional 31,729 shares in the last quarter. Sycomore Asset Management raised its holdings in Confluent by 308.3% during the second quarter. Sycomore Asset Management now owns 333,083 shares of the company's stock worth $9,176,000 after purchasing an additional 251,507 shares in the last quarter. Quantbot Technologies LP raised its holdings in Confluent by 1,465.6% during the third quarter. Quantbot Technologies LP now owns 30,295 shares of the company's stock worth $617,000 after purchasing an additional 28,360 shares in the last quarter. Pathway Capital Management LP bought a new stake in Confluent during the third quarter worth approximately $918,000. Finally, Sei Investments Co. boosted its stake in Confluent by 29.1% during the 2nd quarter. Sei Investments Co. now owns 305,537 shares of the company's stock valued at $9,022,000 after purchasing an additional 68,880 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CFLT. UBS Group upped their price objective on shares of Confluent from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Truist Financial raised their price objective on Confluent from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Needham & Company LLC restated a "buy" rating and set a $31.00 price objective on shares of Confluent in a report on Friday, November 15th. Royal Bank of Canada increased their target price on Confluent from $26.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, Citigroup lifted their price target on shares of Confluent from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus 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.