Insider Selling: Confluent (NASDAQ:CFLT) CRO Sells $353,571.90 in Stock

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 11,517 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $30.70, for a total transaction of $353,571.90. Following the completion of the transaction, the executive owned 378,646 shares in the company, valued at approximately $11,624,432.20. This represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, February 24th, Ban Ryan Norris Mac sold 19,756 shares of Confluent stock. The shares were sold at an average price of $30.66, for a total transaction of $605,718.96.
• 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 transaction of $64,678.93.
• On Friday, February 13th, Ban Ryan Norris Mac sold 1,655 shares of Confluent stock. The shares were sold at an average price of $30.54, for a total value of $50,543.70.
• On Tuesday, December 23rd, Ban Ryan Norris Mac sold 3,053 shares of Confluent stock. The shares were 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 stock was 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 shares were sold at an average price of $29.77, for a total value of $1,313,273.78.

Confluent Trading Down 0.0%

Shares of NASDAQ CFLT opened at $30.63 on Friday. The business has a 50 day simple moving average of $30.42 and a 200 day simple moving average of $24.81. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $33.00. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of -35.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The firm had revenue of $314.82 million during the quarter, compared to analysts’ expectations of $308.03 million. During the same period in the previous year, the company earned $0.09 earnings per share. The company’s revenue was up 20.5% compared to the same quarter last year. On average, research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Confluent

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased its stake in Confluent by 28.5% in the second quarter. Bank of Montreal Can now owns 261,007 shares of the company’s stock valued at $6,507,000 after acquiring an additional 57,928 shares during the period. Hsbc Holdings PLC lifted its stake in Confluent by 655.7% during the second quarter. Hsbc Holdings PLC now owns 243,596 shares of the company’s stock worth $6,013,000 after purchasing an additional 211,360 shares during the period. Persistent Asset Partners Ltd acquired a new stake in Confluent during the second quarter valued at approximately $499,000. Neuberger Berman Group LLC bought a new stake in shares of Confluent in the 2nd quarter valued at approximately $305,000. Finally, First Trust Advisors LP grew its stake in shares of Confluent by 15.7% in the 2nd quarter. First Trust Advisors LP now owns 4,555,913 shares of the company’s stock valued at $113,579,000 after purchasing an additional 616,822 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank Of Canada lowered Confluent from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $30.00 to $31.00 in a report on Tuesday, December 9th. Sanford C. Bernstein downgraded Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price objective on the stock. in a research note on Friday, January 23rd. New Street Research set a $29.00 target price on Confluent in a report on Thursday, October 30th. Truist Financial set a $31.00 target price on Confluent in a research report on Monday, December 8th. Finally, Mizuho downgraded Confluent from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. One investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.71.

About Confluent

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.