Confluent (NASDAQ:CFLT) CRO Sells $50,543.70 in Stock

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 1,655 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $30.54, for a total transaction of $50,543.70. Following the completion of the sale, the executive directly owned 392,276 shares of the company’s stock, valued at approximately $11,980,109.04. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ban Ryan Norris Mac also recently made the following trade(s):

• On Wednesday, February 18th, Ban Ryan Norris Mac sold 2,113 shares of Confluent stock. The stock was sold at an average price of $30.61, for a total value of $64,678.93.
• On Tuesday, December 23rd, Ban Ryan Norris Mac sold 3,053 shares of Confluent stock. The stock was sold at an average price of $29.96, for a total value of $91,467.88.
• On Monday, December 22nd, Ban Ryan Norris Mac sold 1,218 shares of Confluent stock. The shares were sold at an average price of $29.96, for a total value of $36,491.28.
• On Monday, December 8th, Ban Ryan Norris Mac sold 44,114 shares of Confluent stock. The stock was sold at an average price of $29.77, for a total value of $1,313,273.78.
• On Thursday, November 20th, Ban Ryan Norris Mac sold 15,062 shares of Confluent stock. The shares were sold at an average price of $22.51, for a total value of $339,045.62.

Confluent Price Performance

NASDAQ:CFLT opened at $30.70 on Friday. 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 $30.37 and its 200 day moving average price is $24.43. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $33.00. The firm has a market cap of $10.74 billion, a P/E ratio of -35.70 and a beta of 0.95.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in Confluent during the 3rd quarter worth about $26,000. United Community Bank acquired a new position in shares of Confluent in the 4th quarter valued at about $30,000. Danske Bank A S purchased a new stake in shares of Confluent in the third quarter worth approximately $34,000. True Wealth Design LLC purchased a new stake in shares of Confluent in the third quarter worth approximately $36,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Confluent during the fourth quarter worth approximately $36,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. DA Davidson reaffirmed a “neutral” rating and issued a $31.00 price target (up previously from $29.00) on shares of Confluent in a report on Monday, December 8th. Oppenheimer cut Confluent from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. Citigroup boosted their target price on Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 9th. The Goldman Sachs Group increased their price target on Confluent from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Finally, Canaccord Genuity Group downgraded Confluent from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $27.00 to $31.00 in a report 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 issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.71.

Confluent Company Profile

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.