Confluent (NASDAQ:CFLT) CFO Sells $919,977.32 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 29,996 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $30.67, for a total transaction of $919,977.32. Following the sale, the chief financial officer directly owned 531,971 shares in the company, valued at $16,315,550.57. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, February 20th, Rohan Sivaram sold 21,503 shares of Confluent stock. The stock was sold at an average price of $30.70, for a total transaction of $660,142.10.

Confluent Stock Down 0.1%

Shares of NASDAQ:CFLT traded down $0.02 during midday trading on Friday, reaching $30.67. The company had a trading volume of 14,813,111 shares, compared to its average volume of 7,670,227. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $30.81. The stock has a market cap of $10.97 billion, a PE ratio of -35.66 and a beta of 0.95. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average price is $30.56 and its 200 day moving average price is $25.84.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $314.82 million during the quarter, compared to analysts’ expectations of $308.03 million. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. Research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CFLT has been the subject of several analyst reports. DA Davidson reissued a “neutral” rating and issued a $31.00 target price (up from $29.00) on shares of Confluent in a research note on Monday, December 8th. Sanford C. Bernstein downgraded shares of Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a research report on Friday, January 23rd. Royal Bank Of Canada lowered shares of Confluent from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $30.00 to $31.00 in a research note on Tuesday, December 9th. Mizuho cut shares of Confluent from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, Deutsche Bank Aktiengesellschaft set a $31.00 target price on shares of Confluent and gave the company a “hold” rating in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Confluent currently has an average rating of “Hold” and a consensus price target of $28.71.

Hedge Funds Weigh In On Confluent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HBK Investments L P acquired a new position in shares of Confluent in the fourth quarter valued at $453,600,000. Norges Bank acquired a new stake in shares of Confluent during the 4th quarter worth about $265,669,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Confluent during the 3rd quarter worth about $163,667,000. AQR Capital Management LLC boosted its holdings in shares of Confluent by 3,646.4% during the 3rd quarter. AQR Capital Management LLC now owns 4,904,459 shares of the company’s stock worth $97,108,000 after buying an additional 4,773,548 shares during the period. Finally, KRYGER CAPITAL Ltd acquired a new position in Confluent in the 4th quarter valued at about $113,400,000. 78.09% of the stock is owned by institutional investors.

About Confluent

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.