Rohan Sivaram Sells 3,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 3,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $24.00, for a total value of $72,000.00. Following the transaction, the chief financial officer now owns 662,693 shares in the company, valued at $15,904,632. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 2nd, Rohan Sivaram sold 8,000 shares of Confluent stock. The shares were sold at an average price of $22.86, for a total transaction of $182,880.00.
• On Tuesday, May 20th, Rohan Sivaram sold 27,710 shares of Confluent stock. The stock was sold at an average price of $21.83, for a total transaction of $604,909.30.

Confluent Stock Up 0.1%

Shares of Confluent stock traded up $0.03 during trading hours on Monday, hitting $24.39. 3,921,729 shares of the company’s stock traded hands, compared to its average volume of 4,888,342. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a market cap of $8.30 billion, a PE ratio of -22.58 and a beta of 0.98. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The stock has a 50 day simple moving average of $21.97 and a 200-day simple moving average of $26.85.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The firm had revenue of $271.12 million during the quarter, compared to the consensus estimate of $264.45 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. Confluent’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CFLT shares. Robert W. Baird dropped their price target on shares of Confluent from $37.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Bank of America boosted their price objective on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. Needham & Company LLC cut their target price on Confluent from $40.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. JMP Securities reduced their target price on Confluent from $40.00 to $36.00 and set a “market outperform” rating on the stock in a report on Thursday, May 1st. Finally, UBS Group lowered their price target on Confluent from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.11.

Institutional Trading of Confluent

A number of hedge funds have recently made changes to their positions in CFLT. ProShare Advisors LLC boosted its stake in Confluent by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock valued at $301,000 after acquiring an additional 328 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Confluent by 4.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after purchasing an additional 458 shares in the last quarter. Truist Financial Corp lifted its position in shares of Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock worth $589,000 after purchasing an additional 514 shares during the last quarter. Amalgamated Bank lifted its position in shares of Confluent by 3.4% during the first quarter. Amalgamated Bank now owns 16,995 shares of the company’s stock worth $398,000 after purchasing an additional 566 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Confluent by 26.8% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company’s stock worth $73,000 after purchasing an additional 661 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

About Confluent

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.