Kong Phan Sells 1,890 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 1,890 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $21.83, for a total transaction of $41,258.70. Following the completion of the transaction, the chief accounting officer now owns 244,626 shares in the company, valued at approximately $5,340,185.58. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Thursday, March 20th, Kong Phan sold 3,175 shares of Confluent stock. The stock was sold at an average price of $26.86, for a total value of $85,280.50.
• 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 value 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 value of $93,480.00.
• On Friday, February 21st, Kong Phan sold 2,178 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value of $68,781.24.

Confluent Trading Down 0.2%

NASDAQ:CFLT opened at $21.84 on Friday. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. 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 firm has a market cap of $7.43 billion, a P/E ratio of -20.22 and a beta of 1.02. The firm has a 50-day simple moving average of $22.47 and a 200-day simple moving average of $27.20.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The firm had revenue of $271.12 million during the quarter, compared to analyst estimates of $264.45 million. During the same quarter in the previous year, the business posted $0.05 EPS. Confluent’s revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Confluent

A number of hedge funds and other institutional investors have recently bought and sold shares of CFLT. Inspire Investing LLC purchased a new stake in Confluent during the fourth quarter valued at approximately $1,093,000. Zweig DiMenna Associates LLC purchased a new stake in Confluent during the fourth quarter valued at approximately $1,146,000. Blue Trust Inc. lifted its position in Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after acquiring an additional 1,607 shares during the last quarter. KBC Group NV lifted its position in Confluent by 683.8% during the fourth quarter. KBC Group NV now owns 122,090 shares of the company’s stock valued at $3,414,000 after acquiring an additional 106,513 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Confluent by 36.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock valued at $170,000 after acquiring an additional 1,619 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CFLT shares. Piper Sandler cut their target price on Confluent from $40.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Loop Capital cut their target price on Confluent from $30.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. JMP Securities cut their target price on Confluent from $40.00 to $36.00 and set a “market outperform” rating for the company in a research note on Thursday, May 1st. Citigroup reaffirmed a “neutral” rating on shares of Confluent in a research note on Wednesday. Finally, Oppenheimer dropped their price objective on Confluent from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.11.

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.