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 firm’s stock in a transaction 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 directly owned 378,646 shares of the company’s stock, valued at approximately $11,624,432.20. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 stock was 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 value 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 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 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 Price Performance

Shares of NASDAQ CFLT traded down $0.06 during midday trading on Tuesday, hitting $30.63. 10,891,518 shares of the company’s stock were exchanged, compared to its average volume of 19,063,820. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $33.00. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.94. The company has a market cap of $10.95 billion, a price-to-earnings ratio of -35.62 and a beta of 0.95. The business’s fifty day moving average price is $30.39 and its two-hundred day moving average price is $24.73.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share 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 business had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. During the same period last year, the firm posted $0.09 earnings per share. Confluent’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Confluent

A number of large investors have recently made changes to their positions in the business. Quarry LP bought a new position in shares of Confluent during the third quarter valued at approximately $26,000. United Community Bank bought a new stake in Confluent in the fourth quarter valued at $30,000. Danske Bank A S bought a new stake in Confluent in the third quarter valued at $34,000. True Wealth Design LLC purchased a new position in Confluent during the 3rd quarter valued at $36,000. Finally, Los Angeles Capital Management LLC purchased a new position in Confluent during the 4th quarter valued at $36,000. 78.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CFLT has been the subject of a number of research analyst reports. Royal Bank Of Canada downgraded shares of Confluent from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $30.00 to $31.00 in a report on Tuesday, December 9th. Stephens raised their price target on Confluent from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. William Blair lowered Confluent from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Citizens Jmp cut Confluent from an “outperform” rating to a “market perform” rating in a report on Friday, January 9th. Finally, Piper Sandler cut Confluent from an “overweight” rating to a “hold” rating and set a $31.00 price objective on the stock. in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.