Confluent (NASDAQ:CFLT) CRO Ban Ryan Norris Mac Sells 2,113 Shares

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 2,113 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $30.61, for a total value of $64,678.93. Following the completion of the transaction, the executive owned 390,163 shares of the company’s stock, valued at $11,942,889.43. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, February 13th, Ban Ryan Norris Mac sold 1,655 shares of Confluent stock. The stock was 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 transaction 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 transaction 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 transaction 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 transaction of $339,045.62.

Confluent Trading Down 0.1%

Shares of NASDAQ CFLT traded down $0.04 during trading on Wednesday, hitting $30.66. 6,776,448 shares of the company traded hands, compared to its average volume of 18,098,496. The firm has a market capitalization of $10.73 billion, a P/E ratio of -35.65 and a beta of 0.95. 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 company has a 50-day moving average price of $30.34 and a 200-day moving average price of $24.29. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $34.81.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on CFLT shares. Royal Bank Of Canada cut Confluent from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $30.00 to $31.00 in a report on Tuesday, December 9th. Sanford C. Bernstein cut shares of Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price target on the stock. in a research report on Friday, January 23rd. Mizuho downgraded shares of Confluent from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Wolfe Research lowered shares of Confluent from an “outperform” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Deutsche Bank Aktiengesellschaft set a $31.00 target price on shares of Confluent and gave the company a “hold” rating in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.71.

Hedge Funds Weigh In On Confluent

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Confluent by 10.5% in the third quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company’s stock valued at $620,675,000 after buying an additional 2,970,708 shares during the last quarter. HBK Investments L P bought a new stake in shares of Confluent in the 4th quarter valued at approximately $453,600,000. Champlain Investment Partners LLC raised its position in shares of Confluent by 6.7% during the 2nd quarter. Champlain Investment Partners LLC now owns 11,590,026 shares of the company’s stock valued at $288,939,000 after acquiring an additional 727,943 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its stake in Confluent by 34.2% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 11,094,000 shares of the company’s stock worth $335,483,000 after purchasing an additional 2,828,000 shares during the last quarter. Finally, Norges Bank bought a new position in Confluent during the fourth quarter worth $265,669,000. Institutional investors own 78.09% of the company’s stock.

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.