Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CRO Ban Ryan Norris Mac sold 1,225 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $23.49, for a total value of $28,775.25. Following the transaction, the executive now owns 411,830 shares of the company's stock, valued at approximately $9,673,886.70. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Ban Ryan Norris Mac also recently made the following trade(s):
- On Thursday, May 22nd, Ban Ryan Norris Mac sold 14,460 shares of Confluent stock. The shares were sold at an average price of $21.21, for a total value of $306,696.60.
- On Tuesday, May 20th, Ban Ryan Norris Mac sold 9,476 shares of Confluent stock. The shares were sold at an average price of $21.83, for a total value of $206,861.08.
Confluent Trading Up 3.2%
Shares of CFLT traded up $0.74 during midday trading on Tuesday, hitting $24.00. The company's stock had a trading volume of 5,884,022 shares, compared to its average volume of 4,941,395. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The company's fifty day simple moving average is $22.52 and its two-hundred day simple moving average is $26.24. The company has a current ratio of 4.42, a quick ratio of 4.42 and a debt-to-equity ratio of 1.07.
Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Confluent had a negative return on equity of 29.92% and a negative net margin of 31.42%. The company had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. During the same quarter last year, the company posted $0.05 EPS. The company's revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.
Hedge Funds Weigh In On Confluent
Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Confluent during the 4th quarter worth $81,092,000. Pictet Asset Management Holding SA grew its position in shares of Confluent by 7,342.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company's stock valued at $65,748,000 after buying an additional 2,319,919 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Confluent in the 4th quarter valued at about $64,658,000. 1832 Asset Management L.P. bought a new stake in shares of Confluent in the 1st quarter valued at about $48,547,000. Finally, Vanguard Group Inc. grew its position in shares of Confluent by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 26,620,150 shares of the company's stock valued at $623,976,000 after buying an additional 1,791,588 shares during the last quarter. Institutional investors own 78.09% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on CFLT. Citigroup reissued a "neutral" rating on shares of Confluent in a research report on Wednesday, May 21st. Barclays reduced their price target on Confluent from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Guggenheim cut their price objective on Confluent from $38.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. TD Securities cut their price objective on Confluent from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, 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 research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.11.
Check Out Our Latest Research Report on CFLT
Confluent Company Profile
(
Get Free Report)
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.
Further Reading
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