Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan Sells 3,575 Shares

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CAO Kong Phan sold 3,575 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $23.49, for a total value of $83,976.75. Following the completion of the sale, the chief accounting officer now directly owns 239,742 shares of the company's stock, valued at approximately $5,631,539.58. This trade represents a 1.47% 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 Thursday, June 5th, Kong Phan sold 1,309 shares of Confluent stock. The stock was sold at an average price of $24.00, for a total value of $31,416.00.
• On Tuesday, May 20th, Kong Phan sold 1,890 shares of Confluent stock. The stock was sold at an average price of $21.83, for a total value of $41,258.70.

Confluent Stock Performance

Shares of Confluent stock traded up $0.74 on Tuesday, hitting $24.00. 5,884,022 shares of the company's stock traded hands, compared to its average volume of 4,941,395. The firm's 50-day moving average price is $22.52 and its two-hundred day moving average price is $26.24. 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 1.07, a quick ratio of 4.42 and a current ratio of 4.42.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $271.12 million during the quarter, compared to analysts' expectations of $264.45 million. Confluent had a negative net margin of 31.42% and a negative return on equity of 29.92%. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. Equities analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. TD Securities decreased their target price on Confluent from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company cut their price objective on Confluent from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Barclays cut their price objective on Confluent from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. DA Davidson cut their target price on Confluent from $42.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Loop Capital dropped their price objective on Confluent from $30.00 to $22.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $30.11.

Institutional Trading of Confluent

A number of large investors have recently made changes to their positions in the company. Swedbank AB increased its position in shares of Confluent by 168.0% in the 1st quarter. Swedbank AB now owns 469,000 shares of the company's stock valued at $10,993,000 after buying an additional 294,000 shares in the last quarter. Inspire Investing LLC increased its position in shares of Confluent by 21.3% in the 1st quarter. Inspire Investing LLC now owns 47,408 shares of the company's stock valued at $1,111,000 after buying an additional 8,312 shares in the last quarter. Rhumbline Advisers increased its holdings in Confluent by 2.3% during the 1st quarter. Rhumbline Advisers now owns 295,282 shares of the company's stock worth $6,921,000 after purchasing an additional 6,508 shares in the last quarter. Strs Ohio bought a new position in Confluent during the 1st quarter worth about $618,000. Finally, SWS Partners increased its holdings in Confluent by 99.1% during the 1st quarter. SWS Partners now owns 107,330 shares of the company's stock worth $2,516,000 after purchasing an additional 53,428 shares in the last quarter. Institutional investors own 78.09% of the company's stock.

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.

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