Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac Sells 1,225 Shares

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 1,225 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $23.49, for a total transaction of $28,775.25. Following the completion of the transaction, the executive now owns 411,830 shares of the company’s stock, valued at $9,673,886.70. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, May 22nd, Ban Ryan Norris Mac sold 14,460 shares of Confluent stock. The shares were sold at an average price of $21.21, for a total value of $306,696.60.
• On Tuesday, May 20th, Ban Ryan Norris Mac sold 9,476 shares of Confluent stock. The shares were sold at an average price of $21.83, for a total value of $206,861.08.

Confluent Price Performance

Shares of CFLT opened at $24.00 on Wednesday. The stock has a 50 day simple moving average of $22.56 and a 200 day simple moving average of $26.23. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.42 and a current ratio of 4.42. The firm has a market capitalization of $8.17 billion, a PE ratio of -24.49 and a beta of 0.98.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Confluent had a negative net margin of 31.42% and a negative return on equity of 29.92%. The company had revenue of $271.12 million during the quarter, compared to analysts’ expectations of $264.45 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. Sell-side analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Confluent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cloud Capital Management LLC bought a new stake in shares of Confluent in the first quarter valued at about $26,000. Credit Industriel ET Commercial acquired a new stake in Confluent in the 4th quarter valued at approximately $28,000. Versant Capital Management Inc lifted its stake in Confluent by 2,458.2% in the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company’s stock valued at $40,000 after acquiring an additional 1,647 shares in the last quarter. Banque Transatlantique SA acquired a new position in Confluent during the 1st quarter worth approximately $43,000. Finally, SVB Wealth LLC bought a new position in shares of Confluent during the 1st quarter worth approximately $54,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CFLT shares. UBS Group dropped their price objective on Confluent from $38.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of Confluent from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus reduced their price objective on shares of Confluent from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. DA Davidson lowered their target price on shares of Confluent from $42.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Loop Capital dropped their target price on shares of Confluent from $30.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.11.

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.