Rohan Sivaram Sells 21,503 Shares of Confluent (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 21,503 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $30.70, for a total transaction of $660,142.10. Following the transaction, the chief financial officer directly owned 561,966 shares in the company, valued at $17,252,356.20. This trade represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, December 8th, Rohan Sivaram sold 3,000 shares of Confluent stock. The shares were sold at an average price of $29.84, for a total transaction of $89,520.00.
• On Monday, December 1st, Rohan Sivaram sold 8,000 shares of Confluent stock. The stock was sold at an average price of $22.12, for a total value of $176,960.00.

Confluent Stock Performance

CFLT stock traded down $0.06 during midday trading on Tuesday, hitting $30.63. The stock had a trading volume of 10,891,518 shares, compared to its average volume of 19,063,820. The stock has a 50-day simple moving average of $30.39 and a 200 day simple moving average of $24.73. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of -35.62 and a beta of 0.95. Confluent, Inc. has a 52 week low of $15.64 and a 52 week 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.

Confluent (NASDAQ:CFLT) last issued its earnings results 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 business had revenue of $314.82 million for 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 firm’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. As a group, equities research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CFLT. William Blair downgraded Confluent from an “outperform” rating to a “market perform” rating in a report on Monday, December 8th. UBS Group lowered shares of Confluent from a “buy” rating to a “neutral” rating and raised their target price for the company from $29.00 to $31.00 in a research note on Tuesday, December 9th. Stifel Nicolaus lifted their price objective on Confluent from $21.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, October 28th. TD Cowen reaffirmed a “hold” rating on shares of Confluent in a research note on Tuesday, October 28th. Finally, Barclays raised their price target on Confluent from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Confluent has a consensus rating of “Hold” and an average price target of $28.71.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CFLT. Pacer Advisors Inc. boosted its holdings in shares of Confluent by 74.9% in the 4th quarter. Pacer Advisors Inc. now owns 29,584 shares of the company’s stock valued at $895,000 after buying an additional 12,670 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Confluent by 2,048.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,289,720 shares of the company’s stock worth $39,001,000 after buying an additional 1,229,696 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Confluent during the fourth quarter worth $513,000. Fuller & Thaler Asset Management Inc. bought a new stake in Confluent during the fourth quarter worth $457,000. Finally, XTX Topco Ltd acquired a new stake in Confluent in the fourth quarter valued at $2,501,000. Institutional investors and hedge funds 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.