Confluent (NASDAQ:CFLT) CAO Sells $69,903.90 in Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 2,277 shares of Confluent stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $30.70, for a total transaction of $69,903.90. Following the sale, the chief accounting officer owned 218,228 shares of the company’s stock, valued at approximately $6,699,599.60. This represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 22nd, Kong Phan sold 4,545 shares of Confluent stock. The shares were sold at an average price of $29.96, for a total transaction of $136,168.20.
• On Monday, December 8th, Kong Phan sold 3,841 shares of Confluent stock. The stock was sold at an average price of $29.84, for a total transaction of $114,615.44.

Confluent Stock Down 0.0%

NASDAQ:CFLT opened at $30.63 on Friday. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.94. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $33.00. The stock’s fifty day simple moving average is $30.42 and its 200-day simple moving average is $24.81. The firm has a market capitalization of $10.95 billion, a P/E ratio of -35.62 and a beta of 0.95.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Mizuho lowered shares of Confluent from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Canaccord Genuity Group downgraded 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 research note on Monday, December 8th. Raymond James Financial lowered Confluent from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft set a $31.00 price target on Confluent and gave the stock a “hold” rating in a report on Monday, December 8th. Finally, Robert W. Baird lifted their price objective on Confluent from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. United Community Bank acquired a new stake in Confluent in the 4th quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of Confluent in the fourth quarter valued at approximately $36,000. Quarry LP bought a new stake in shares of Confluent in the third quarter worth $26,000. Leonteq Securities AG bought a new stake in shares of Confluent in the fourth quarter worth $48,000. Finally, Danske Bank A S acquired a new position in Confluent during the third quarter worth $34,000. 78.09% of the stock is owned by institutional investors and hedge funds.

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.