Kong Phan Sells 12,460 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CAO Kong Phan sold 12,460 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $31.30, for a total transaction of $389,998.00. Following the completion of the transaction, the chief accounting officer now owns 183,886 shares in the company, valued at $5,755,631.80. The trade was a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, November 20th, Kong Phan sold 2,096 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $59,170.08.
• On Friday, September 20th, Kong Phan sold 190 shares of Confluent stock. The stock was sold at an average price of $20.12, for a total value of $3,822.80.

Confluent Price Performance

Shares of Confluent stock traded up $0.98 during trading on Monday, reaching $31.47. The company’s stock had a trading volume of 3,719,843 shares, compared to its average volume of 4,344,167. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The stock has a 50-day moving average price of $26.86 and a two-hundred day moving average price of $24.65. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $10.32 billion, a P/E ratio of -28.38 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The company had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. As a group, sell-side analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent in the 3rd quarter valued at $68,000. Acadian Asset Management LLC acquired a new position in shares of Confluent during the second quarter valued at $175,000. Plato Investment Management Ltd boosted its holdings in Confluent by 2,184.1% in the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after acquiring an additional 6,312 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Confluent in the third quarter worth about $214,000. Finally, Centaurus Financial Inc. raised its holdings in Confluent by 109.2% during the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock worth $216,000 after purchasing an additional 3,821 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analysts Set New Price Targets

CFLT has been the subject of several research analyst reports. TD Cowen upped their target price on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Truist Financial upped their price target on Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada raised their price objective on Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $30.00 target price on shares of Confluent in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.04.

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.