Confluent, Inc. (NASDAQ:CFLT) CRO Sells $28,775.25 in Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CRO Ban Ryan Norris Mac sold 1,225 shares of Confluent stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $23.49, for a total value of $28,775.25. Following the sale, the executive now owns 411,830 shares in the company, valued at $9,673,886.70. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 stock was sold at an average price of $21.83, for a total transaction of $206,861.08.

Confluent Price Performance

NASDAQ CFLT traded down $0.39 during trading hours on Friday, hitting $24.46. The company had a trading volume of 3,185,244 shares, compared to its average volume of 4,960,081. The firm has a 50 day simple moving average of $22.68 and a 200 day simple moving average of $26.16. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of -24.92 and a beta of 0.98. Confluent, Inc. has a 52 week low of $17.79 and a 52 week 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 announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $264.45 million. During the same period last year, the firm posted $0.05 EPS. Confluent's revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on CFLT shares. Piper Sandler reduced their price objective on shares of Confluent from $40.00 to $32.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus cut their target price on shares of Confluent from $40.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC decreased their price target on Confluent from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Raymond James Financial began coverage on Confluent in a report on Friday, April 11th. They issued an "outperform" rating and a $30.00 price objective for the company. Finally, Canaccord Genuity Group reduced their target price on Confluent from $38.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.11.

Institutional Investors Weigh In On Confluent

A number of hedge funds and other institutional investors have recently bought and sold shares of CFLT. Credit Industriel ET Commercial bought a new position in Confluent in the 4th quarter valued at approximately $28,000. Cloud Capital Management LLC purchased a new position in Confluent in the 1st quarter worth about $26,000. Versant Capital Management Inc boosted its holdings in shares of Confluent by 2,458.2% during the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock valued at $40,000 after acquiring an additional 1,647 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Confluent in the first quarter worth approximately $43,000. Finally, SBI Securities Co. Ltd. bought a new stake in Confluent in the 4th quarter worth approximately $59,000. 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.