Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram Sells 3,000 Shares

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CFO Rohan Sivaram sold 3,000 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $24.00, for a total transaction of $72,000.00. Following the completion of the transaction, the chief financial officer now directly owns 662,693 shares of the company's stock, valued at $15,904,632. The trade was a 0.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 2nd, Rohan Sivaram sold 8,000 shares of Confluent stock. The stock was sold at an average price of $22.86, for a total transaction of $182,880.00.
• 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 Up 1.3%

Shares of CFLT stock traded up $0.32 during trading hours on Thursday, reaching $24.41. The company had a trading volume of 3,886,451 shares, compared to its average volume of 4,894,708. The company has a market capitalization of $8.31 billion, a P/E ratio of -22.60 and a beta of 0.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The stock's fifty day simple moving average is $22.11 and its 200 day simple moving average is $26.76.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $271.12 million during 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 revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. As a group, sell-side analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Trading of Confluent

Several institutional investors have recently added to or reduced their stakes in the business. Cloud Capital Management LLC acquired a new position in Confluent in the first quarter valued at approximately $26,000. Credit Industriel ET Commercial bought a new stake in shares of Confluent in the 4th quarter worth approximately $28,000. Versant Capital Management Inc lifted its holdings in shares of Confluent by 2,458.2% in the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after purchasing an additional 1,647 shares during the last quarter. Banque Transatlantique SA acquired a new position in Confluent during the 1st quarter valued at approximately $43,000. Finally, SVB Wealth LLC bought a new position in Confluent during the 1st quarter worth $54,000. Institutional investors own 78.09% of the company's stock.

Analyst Ratings Changes

CFLT has been the subject of several analyst reports. Evercore ISI cut their price target on Confluent from $29.00 to $28.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Loop Capital dropped their target price on Confluent from $30.00 to $22.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Truist Financial decreased their price target on Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Guggenheim dropped their price objective on shares of Confluent from $38.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, William Blair reiterated an "outperform" rating on shares of Confluent in a report on Monday, March 17th. 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's stock. Based on data from MarketBeat.com, Confluent has an average rating of "Moderate Buy" and a consensus price target of $30.11.

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.