Confluent (NASDAQ:CFLT) CAO Kong Phan Sells 4,544 Shares

Key Points

• Kong Phan, the Chief Accounting Officer (CAO) of Confluent, sold 4,544 shares of the company's stock on September 22nd, reducing his ownership to 232,534 shares, valued at approximately $4.62 million.
• Confluent reported earnings of $0.09 per share, beating expectations slightly, with revenues up 20.1% year-over-year to $282.29 million.
• Several analysts lowered their price targets for Confluent's shares, with Oppenheimer reducing its target from $32.00 to $26.00, while the stock currently trades with an average target price of $27.36.

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CAO Kong Phan sold 4,544 shares of Confluent stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $19.87, for a total transaction of $90,289.28. Following the sale, the chief accounting officer owned 232,534 shares of the company's stock, valued at approximately $4,620,450.58. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kong Phan also recently made the following trade(s):

• On Wednesday, August 20th, Kong Phan sold 2,664 shares of Confluent stock. The shares were sold at an average price of $17.01, for a total transaction of $45,314.64.

Confluent Trading Down 0.7%

Confluent stock traded down $0.14 during midday trading on Wednesday, reaching $19.74. 8,144,767 shares of the stock traded hands, compared to its average volume of 6,674,331. The company has a 50-day simple moving average of $20.18 and a two-hundred day simple moving average of $22.28. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $37.90. The firm has a market cap of $6.81 billion, a PE ratio of -21.00 and a beta of 0.97. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.03.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $282.29 million for the quarter, compared to the consensus estimate of $278.32 million. Confluent had a negative return on equity of 27.34% and a negative net margin of 29.27%.Confluent's revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 EPS. Confluent has set its Q3 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.360-0.360 EPS. Research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CFLT shares. Oppenheimer reduced their target price on Confluent from $32.00 to $26.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Barclays lowered their price target on Confluent from $31.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Capital One Financial set a $21.00 target price on shares of Confluent in a report on Thursday, July 31st. Piper Sandler cut their price target on shares of Confluent from $32.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Finally, Stifel Nicolaus reiterated a "hold" rating and set a $21.00 target price (down from $30.00) on shares of Confluent in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Confluent has an average rating of "Moderate Buy" and an average target price of $27.36.

Institutional Investors Weigh In On Confluent

Several hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its holdings in Confluent by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 10,774 shares of the company's stock valued at $301,000 after acquiring an additional 328 shares during the last quarter. Royal Bank of Canada grew its stake in Confluent by 86.3% in the 4th quarter. Royal Bank of Canada now owns 498,413 shares of the company's stock valued at $13,936,000 after buying an additional 230,943 shares during the last quarter. Fluent Financial LLC acquired a new position in shares of Confluent in the fourth quarter valued at approximately $606,000. Wealth Enhancement Advisory Services LLC raised its position in Confluent by 36.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,763 shares of the company's stock valued at $860,000 after purchasing an additional 8,204 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in Confluent by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 223,043 shares of the company's stock worth $6,236,000 after acquiring an additional 1,334 shares in the last quarter. Institutional investors own 78.09% of the company's stock.

Confluent Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.