Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CFO Sells $182,880.00 in Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 8,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $22.86, for a total transaction of $182,880.00. Following the completion of the transaction, the chief financial officer now directly owns 665,693 shares of the company’s stock, valued at approximately $15,217,741.98. The trade was a 1.19% 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 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 Performance

Shares of CFLT stock opened at $24.36 on Friday. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of -22.56 and a beta of 0.98. The company’s 50 day moving average is $21.97 and its 200 day moving average is $26.89. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90.

Confluent (NASDAQ:CFLT) 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 for the quarter, compared to analyst estimates 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 was up 24.8% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. On average, sell-side analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Confluent

Institutional investors have recently bought and sold shares of the business. Credit Industriel ET Commercial purchased a new position in Confluent in the fourth quarter worth $28,000. Cloud Capital Management LLC purchased a new position in Confluent in the first quarter worth $26,000. Versant Capital Management Inc grew its holdings in Confluent by 2,458.2% in the first 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 purchased a new position in Confluent in the first quarter worth $43,000. Finally, Blue Trust Inc. grew its holdings in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CFLT shares. Citigroup reissued a “neutral” rating on shares of Confluent in a research note on Wednesday, May 21st. Stifel Nicolaus decreased their price target on Confluent from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Needham & Company LLC dropped their price objective on Confluent from $40.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Scotiabank cut their price objective on Confluent from $35.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James initiated coverage on Confluent in a research report on Friday, April 11th. They set an “outperform” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.