Confluent (NASDAQ:CFLT) CFO Sells $919,977.32 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 29,996 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $30.67, for a total transaction of $919,977.32. Following the completion of the transaction, the chief financial officer directly owned 531,971 shares in the company, valued at $16,315,550.57. This trade represents a 5.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rohan Sivaram also recently made the following trade(s):

• On Friday, February 20th, Rohan Sivaram sold 21,503 shares of Confluent stock. The stock was sold at an average price of $30.70, for a total transaction of $660,142.10.

Confluent Trading Down 0.1%

NASDAQ CFLT traded down $0.02 during trading hours on Friday, hitting $30.67. The company’s stock had a trading volume of 14,813,111 shares, compared to its average volume of 7,670,227. Confluent, Inc. has a twelve month low of $15.64 and a twelve month high of $30.81. The firm has a market capitalization of $10.97 billion, a P/E ratio of -35.66 and a beta of 0.95. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average of $30.56 and a 200 day moving average of $25.84.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, February 11th. The company reported $0.12 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 firm had revenue of $314.82 million during the quarter, compared to analyst estimates of $308.03 million. During the same quarter in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. Equities research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Oppenheimer cut Confluent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Citizens Jmp cut shares of Confluent from an “outperform” rating to a “market perform” rating in a report on Friday, January 9th. Mizuho downgraded shares of Confluent from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Needham & Company LLC cut shares of Confluent from a “buy” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Sanford C. Bernstein lowered shares of Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price target for the company. in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.71.

Institutional Trading of Confluent

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in shares of Confluent by 9.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,938 shares of the company’s stock worth $149,000 after acquiring an additional 432 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Confluent by 0.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 86,929 shares of the company’s stock valued at $2,629,000 after acquiring an additional 452 shares in the last quarter. Utah Retirement Systems boosted its stake in Confluent by 4.7% in the 4th 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. Xponance Inc. boosted its stake in Confluent by 1.8% in the 3rd quarter. Xponance Inc. now owns 40,399 shares of the company’s stock worth $800,000 after purchasing an additional 723 shares during the period. Finally, Perigon Wealth Management LLC boosted its position in Confluent by 8.7% during the 3rd quarter. Perigon Wealth Management LLC now owns 10,775 shares of the company’s stock worth $213,000 after acquiring an additional 866 shares during the last quarter. 78.09% of the stock is currently 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.