Confluent, Inc. (NASDAQ:CFLT – Get Rating) SVP Chad Verbowski sold 9,441 shares of Confluent stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $20.11, for a total transaction of $189,858.51. Following the transaction, the senior vice president now owns 338,391 shares of the company’s stock, valued at $6,805,043.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Chad Verbowski also recently made the following trade(s):
- On Tuesday, September 20th, Chad Verbowski sold 8,097 shares of Confluent stock. The shares were sold at an average price of $24.32, for a total transaction of $196,919.04.
Confluent Price Performance
CFLT traded up $2.54 during trading on Thursday, reaching $23.18. 3,166,680 shares of the company were exchanged, compared to its average volume of 3,551,719. Confluent, Inc. has a 12-month low of $16.48 and a 12-month high of $85.50. The company’s 50-day moving average is $23.78 and its two-hundred day moving average is $24.40. The company has a quick ratio of 5.74, a current ratio of 5.74 and a debt-to-equity ratio of 1.38. The company has a market cap of $6.64 billion, a price-to-earnings ratio of -13.88 and a beta of 1.26.
Wall Street Analyst Weigh In
CFLT has been the topic of several analyst reports. UBS Group lifted their target price on Confluent from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. DA Davidson dropped their price target on shares of Confluent from $44.00 to $33.00 in a research report on Thursday, November 3rd. Barclays cut their price target on shares of Confluent from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, November 3rd. Morgan Stanley cut their price objective on Confluent from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Confluent from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.36.
Institutional Trading of Confluent
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Confluent in the 2nd quarter valued at $26,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Confluent in the third quarter worth $29,000. Advisors Asset Management Inc. bought a new stake in Confluent during the first quarter valued at $30,000. US Bancorp DE purchased a new position in shares of Confluent during the third quarter worth about $31,000. Finally, James Investment Research Inc. increased its holdings in shares of Confluent by 716.9% in the 2nd quarter. James Investment Research Inc. now owns 1,356 shares of the company’s stock worth $32,000 after buying an additional 1,190 shares during the last quarter. Institutional investors own 40.65% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Confluent (CFLT)
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