Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CAO Kong Phan sold 3,175 shares of Confluent stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total value of $85,280.50. Following the sale, the chief accounting officer now owns 246,516 shares in the company, valued at $6,621,419.76. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Kong Phan also recently made the following trade(s):
- On Wednesday, February 26th, Kong Phan sold 760 shares of Confluent stock. The stock was sold at an average price of $32.00, for a total transaction of $24,320.00.
- On Monday, February 24th, Kong Phan sold 3,040 shares of Confluent stock. The stock was sold at an average price of $30.75, for a total transaction of $93,480.00.
- On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The shares were sold at an average price of $31.58, for a total transaction of $68,781.24.
- On Thursday, February 13th, Kong Phan sold 6,346 shares of Confluent stock. The stock was sold at an average price of $36.22, for a total value of $229,852.12.
Confluent Stock Performance
Confluent stock traded down $1.24 during trading on Friday, reaching $24.33. The company had a trading volume of 4,455,044 shares, compared to its average volume of 4,360,792. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of -22.53 and a beta of 0.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The firm's 50-day simple moving average is $29.40 and its 200 day simple moving average is $27.11. 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 posted 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 return on equity of 34.70% and a negative net margin of 35.81%. Sell-side analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Confluent
Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in shares of Confluent by 0.6% during the 4th quarter. California State Teachers Retirement System now owns 223,043 shares of the company's stock valued at $6,236,000 after purchasing an additional 1,334 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Confluent by 36.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,763 shares of the company's stock worth $860,000 after buying an additional 8,204 shares in the last quarter. Fluent Financial LLC bought a new stake in Confluent during the fourth quarter valued at about $606,000. Infinitum Asset Management LLC purchased a new position in shares of Confluent in the fourth quarter valued at about $10,485,000. Finally, Cache Advisors LLC bought a new position in shares of Confluent in the fourth quarter worth about $1,322,000. Hedge funds and other institutional investors own 78.09% of the company's stock.
Analyst Upgrades and Downgrades
CFLT has been the subject of a number of recent research reports. Scotiabank lifted their price objective on Confluent from $27.00 to $35.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Loop Capital lowered their price target on Confluent from $34.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, March 10th. Wells Fargo & Company upped their price target on shares of Confluent from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Barclays raised their price objective on shares of Confluent from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Bank of America upped their target price on shares of Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $35.33.
Check Out Our Latest Stock Report on Confluent
About Confluent
(
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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.
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