Ban Ryan Norris Mac Sells 2,113 Shares of Confluent (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 2,113 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $30.61, for a total value of $64,678.93. Following the sale, the executive owned 390,163 shares of the company’s stock, valued at approximately $11,942,889.43. This trade represents a 0.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ban Ryan Norris Mac also recently made the following trade(s):

• On Friday, February 13th, Ban Ryan Norris Mac sold 1,655 shares of Confluent stock. The stock was sold at an average price of $30.54, for a total transaction of $50,543.70.
• On Tuesday, December 23rd, Ban Ryan Norris Mac sold 3,053 shares of Confluent stock. The shares were sold at an average price of $29.96, for a total value of $91,467.88.
• On Monday, December 22nd, Ban Ryan Norris Mac sold 1,218 shares of Confluent stock. The stock was sold at an average price of $29.96, for a total transaction of $36,491.28.
• On Monday, December 8th, Ban Ryan Norris Mac sold 44,114 shares of Confluent stock. The stock was sold at an average price of $29.77, for a total value of $1,313,273.78.
• On Thursday, November 20th, Ban Ryan Norris Mac sold 15,062 shares of Confluent stock. The stock was sold at an average price of $22.51, for a total value of $339,045.62.

Confluent Trading Up 0.2%

Confluent stock opened at $30.72 on Friday. The company has a 50 day moving average price of $30.36 and a 200 day moving average price of $24.34. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $33.23. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of -35.72 and a beta of 0.95.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The business had revenue of $314.82 million during the quarter, compared to analyst estimates of $308.03 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. Research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Hedge Funds Weigh In On Confluent

Hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its stake in Confluent by 2,048.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,289,720 shares of the company’s stock worth $39,001,000 after buying an additional 1,229,696 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Confluent in the 4th quarter worth about $513,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Confluent in the 4th quarter valued at about $457,000. XTX Topco Ltd bought a new stake in shares of Confluent during the 4th quarter valued at about $2,501,000. Finally, Utah Retirement Systems grew its stake in Confluent by 4.7% during the fourth quarter. Utah Retirement Systems now owns 15,320 shares of the company’s stock worth $463,000 after purchasing an additional 688 shares during the period. 78.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Stifel Nicolaus raised their price target on shares of Confluent from $21.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, October 28th. New Street Research set a $29.00 target price on shares of Confluent in a research note on Thursday, October 30th. William Blair cut shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Monday, December 8th. Morgan Stanley increased their target price on shares of Confluent from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Finally, Canaccord Genuity Group lowered shares of Confluent from a “buy” rating to a “hold” rating and raised their price objective for the stock from $27.00 to $31.00 in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.71.

About Confluent

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.