Confluent (NASDAQ:CFLT) Trading Up 4.6%

Confluent, Inc. (NASDAQ:CFLTGet Rating) was up 4.6% on Wednesday . The stock traded as high as $21.61 and last traded at $21.58. Approximately 7,008 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 3,601,219 shares. The stock had previously closed at $20.64.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CFLT shares. Wells Fargo & Company boosted their target price on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. UBS Group boosted their target price on Confluent from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Credit Suisse Group lowered their target price on Confluent from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. Morgan Stanley lowered their target price on Confluent from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Thursday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Confluent from $28.00 to $32.00 in a research report on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $35.36.

Confluent Price Performance

The stock has a market cap of $6.64 billion, a P/E ratio of -13.88 and a beta of 1.26. The firm has a 50-day moving average price of $23.78 and a 200-day moving average price of $24.40. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.74 and a current ratio of 5.74.

Confluent (NASDAQ:CFLTGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.40) earnings per share for the quarter, hitting the consensus estimate of ($0.40). Confluent had a negative return on equity of 55.60% and a negative net margin of 85.83%. The company had revenue of $151.73 million for the quarter, compared to the consensus estimate of $144.39 million. On average, analysts forecast that Confluent, Inc. will post -1.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Chad Verbowski sold 9,441 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $20.11, for a total value of $189,858.51. Following the transaction, the senior vice president now directly owns 338,391 shares of the company’s stock, valued at approximately $6,805,043.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Steffan Tomlinson sold 15,393 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $25.00, for a total transaction of $384,825.00. Following the completion of the transaction, the chief financial officer now owns 106,407 shares in the company, valued at $2,660,175. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Chad Verbowski sold 9,441 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $20.11, for a total value of $189,858.51. Following the transaction, the senior vice president now owns 338,391 shares of the company’s stock, valued at approximately $6,805,043.01. The disclosure for this sale can be found here. Insiders have sold 571,702 shares of company stock valued at $13,041,645 in the last ninety days. 27.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Credit Suisse AG boosted its position in shares of Confluent by 1.7% during the second quarter. Credit Suisse AG now owns 21,325 shares of the company’s stock valued at $495,000 after buying an additional 362 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Confluent by 37.7% during the second quarter. Geneos Wealth Management Inc. now owns 1,473 shares of the company’s stock valued at $36,000 after buying an additional 403 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Confluent by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 62,332 shares of the company’s stock valued at $1,482,000 after buying an additional 491 shares during the period. Penserra Capital Management LLC raised its stake in shares of Confluent by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,926 shares of the company’s stock valued at $78,000 after acquiring an additional 642 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Confluent by 1.3% during the third quarter. Treasurer of the State of North Carolina now owns 53,222 shares of the company’s stock valued at $1,265,000 after acquiring an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 40.65% of the company’s stock.

Confluent Company Profile

(Get Rating)

Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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