Rohan Sivaram Sells 8,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CFO Rohan Sivaram sold 8,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $22.86, for a total transaction of $182,880.00. Following the transaction, the chief financial officer now directly owns 665,693 shares in the company, valued at $15,217,741.98. The trade was a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, May 20th, Rohan Sivaram sold 27,710 shares of Confluent stock. The shares were sold at an average price of $21.83, for a total transaction of $604,909.30.

Confluent Stock Performance

NASDAQ CFLT traded up $0.41 on Friday, reaching $24.59. 2,594,234 shares of the company's stock traded hands, compared to its average volume of 4,864,474. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week 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 $8.37 billion, a price-to-earnings ratio of -22.78 and a beta of 0.98. The stock has a 50 day moving average price of $21.95 and a 200-day moving average price of $26.92.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. The company had revenue of $271.12 million for the quarter, compared to the consensus estimate of $264.45 million. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Confluent's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. Equities research analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Confluent from $40.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. UBS Group cut their target price on shares of Confluent from $38.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Royal Bank of Canada lifted their price target on Confluent from $36.00 to $41.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. JMP Securities reduced their price objective on Confluent from $40.00 to $36.00 and set a "market outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Scotiabank dropped their price objective on Confluent from $35.00 to $24.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. One investment 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $30.11.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CFLT. ProShare Advisors LLC increased its position in shares of Confluent by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 10,774 shares of the company's stock worth $301,000 after purchasing an additional 328 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Confluent by 4.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company's stock valued at $323,000 after buying an additional 458 shares during the last quarter. Truist Financial Corp lifted its holdings in Confluent by 2.5% during the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company's stock worth $589,000 after buying an additional 514 shares during the last quarter. Amalgamated Bank lifted its stake in Confluent by 3.4% in the first quarter. Amalgamated Bank now owns 16,995 shares of the company's stock valued at $398,000 after buying an additional 566 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Confluent by 26.8% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $73,000 after acquiring an additional 661 shares during the period. Hedge funds and other 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.