Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram Sells 858 Shares

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 858 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $26.76, for a total value of $22,960.08. Following the sale, the chief financial officer now owns 578,263 shares in the company, valued at approximately $15,474,317.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Rohan Sivaram also recently made the following trade(s):

• On Monday, May 20th, Rohan Sivaram sold 21,045 shares of Confluent stock. The stock was sold at an average price of $31.96, for a total value of $672,598.20.

Confluent Stock Performance

NASDAQ:CFLT opened at $27.34 on Tuesday. The stock has a fifty day moving average price of $28.62 and a 200-day moving average price of $27.96. The company has a market cap of $8.69 billion, a price-to-earnings ratio of -21.87 and a beta of 0.88. The company has a debt-to-equity ratio of 1.29, a quick ratio of 5.07 and a current ratio of 5.07. Confluent, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $41.22.

Confluent (NASDAQ:CFLT) last released its earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. The company had revenue of $217.24 million for the quarter, compared to the consensus estimate of $211.57 million. As a group, equities analysts anticipate that Confluent, Inc. will post -0.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CFLT. JMP Securities upped their price objective on Confluent from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 8th. Barclays boosted their target price on Confluent from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Guggenheim boosted their target price on Confluent from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Canaccord Genuity Group raised Confluent from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, May 8th. Finally, Evercore ISI started coverage on Confluent in a report on Tuesday, June 11th. They set an “outperform” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.93.

Institutional Trading of Confluent

Institutional investors and hedge funds have recently modified their holdings of the business. Panagora Asset Management Inc. bought a new stake in shares of Confluent during the 4th quarter worth $745,000. KADENSA CAPITAL Ltd bought a new position in Confluent in the third quarter valued at about $11,512,000. Norges Bank bought a new position in Confluent in the fourth quarter valued at about $37,046,000. Victory Capital Management Inc. raised its position in Confluent by 20.2% in the fourth quarter. Victory Capital Management Inc. now owns 561,497 shares of the company’s stock valued at $13,139,000 after purchasing an additional 94,405 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Confluent by 18,649.2% in the third quarter. Tower Research Capital LLC TRC now owns 12,187 shares of the company’s stock valued at $361,000 after purchasing an additional 12,122 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors.

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.