Confluent (NASDAQ:CFLT) CRO Sells $605,718.96 in Stock

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 19,756 shares of Confluent stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $30.66, for a total value of $605,718.96. Following the completion of the transaction, the executive owned 358,890 shares of the company’s stock, valued at approximately $11,003,567.40. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, February 20th, Ban Ryan Norris Mac sold 11,517 shares of Confluent stock. The stock was sold at an average price of $30.70, for a total value of $353,571.90.
• On Wednesday, February 18th, Ban Ryan Norris Mac sold 2,113 shares of Confluent stock. The shares were 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 stock was sold at an average price of $30.54, for a total transaction 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 transaction of $91,467.88.
• On Monday, December 22nd, Ban Ryan Norris Mac sold 1,218 shares of Confluent stock. The shares were 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.

Confluent Price Performance

CFLT opened at $30.63 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.83 and a quick ratio of 3.83. The stock has a market capitalization of $10.95 billion, a P/E ratio of -35.62 and a beta of 0.95. The company’s 50 day simple moving average is $30.42 and its 200-day simple moving average is $24.81. Confluent, Inc. has a one year low of $15.64 and a one year high of $33.00.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The firm had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CFLT. Bank of Montreal Can lifted its stake in Confluent by 28.5% in the 2nd quarter. Bank of Montreal Can now owns 261,007 shares of the company’s stock valued at $6,507,000 after acquiring an additional 57,928 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Confluent by 655.7% during the 2nd quarter. Hsbc Holdings PLC now owns 243,596 shares of the company’s stock worth $6,013,000 after acquiring an additional 211,360 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Confluent in the second quarter valued at approximately $499,000. Neuberger Berman Group LLC bought a new stake in shares of Confluent in the second quarter worth $305,000. Finally, First Trust Advisors LP lifted its position in shares of Confluent by 15.7% in the second quarter. First Trust Advisors LP now owns 4,555,913 shares of the company’s stock worth $113,579,000 after purchasing an additional 616,822 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler cut Confluent from an “overweight” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Monday, December 8th. Wells Fargo & Company restated an “equal weight” rating and set a $31.00 target price on shares of Confluent in a research report on Monday, December 8th. Citizens Jmp lowered shares of Confluent from an “outperform” rating to a “market perform” rating in a research note on Friday, January 9th. Guggenheim downgraded shares of Confluent from a “buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Evercore set a $31.00 price objective on shares of Confluent in a report 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 issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.