Ban Ryan Norris Mac Sells 11,517 Shares of Confluent (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CRO Ban Ryan Norris Mac sold 11,517 shares of Confluent stock in a transaction on Friday, February 20th. The stock was sold at an average price of $30.70, for a total transaction of $353,571.90. Following the transaction, the executive owned 378,646 shares in the company, valued at approximately $11,624,432.20. This trade represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 shares were sold at an average price of $30.66, for a total value 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 shares were 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 Stock Performance

NASDAQ:CFLT opened at $30.64 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $33.00. The company has a 50 day simple moving average of $30.41 and a two-hundred day simple moving average of $24.77. The company has a market capitalization of $10.96 billion, a PE ratio of -35.63 and a beta of 0.95.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. During the same quarter in the previous year, the company earned $0.09 EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CFLT shares. DA Davidson reissued a “neutral” rating and issued a $31.00 price objective (up from $29.00) on shares of Confluent in a research note on Monday, December 8th. Citigroup lifted their target price on Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. Mizuho cut Confluent from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Royal Bank Of Canada downgraded shares of Confluent from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $30.00 to $31.00 in a research report on Tuesday, December 9th. Finally, Robert W. Baird boosted their target price on shares of Confluent from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, December 9th. 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 presently has an average rating of “Hold” and an average target price of $28.71.

Key Confluent News

Here are the key news stories impacting Confluent this week:

• Positive Sentiment: Major institutional inflows — large new stakes from HBK, Norges Bank, Jericho and AQR suggest strong institutional demand and provide a potential floor under the stock. Read More.
• Positive Sentiment: IBM / takeover narrative referenced in recent coverage (IBM’s strategic tie/coverage cites the prior ~$11B IBM/Confluent deal), which supports a takeover-premium / strategic-exit thesis for shareholders. Read More.
• Positive Sentiment: Product/partner momentum — coverage of Confluent’s “Sell With Confluent” partner program and TAM capture reinforces the growth story for event-streaming and cloud data platforms. Read More.
• Neutral Sentiment: Analyst consensus remains an average “Hold” with a consensus price target near $28.7, so Street expectations are mixed rather than uniformly bullish or bearish. Read More.
• Neutral Sentiment: Short-interest data reported for February appears to contain errors (zero / NaN values), so there’s no reliable short-position signal from the latest release.
• Negative Sentiment: Large, high-profile insider selling — CEO Edward Jay Kreps sold ~270,207 shares (~47% reduction), a sizeable liquidity event that typically weighs on sentiment and can trigger short-term selling pressure. Read More.
• Negative Sentiment: Multiple other executive trims — CFO Rohan Sivaram, CRO Ban Ryan Norris Mac (multiple filings) and CAO Kong Phan also sold shares (Kong Phan sale detailed separately), increasing the overall impression of insider distribution. Read More. • Read More. • Read More.
• Negative Sentiment: Specific insider sale: CAO Kong Phan sold 2,277 shares at ~$30.70 (disclosed). Small by dollar amount but adds to the cumulative insider selling narrative. Read More.

Institutional Trading of Confluent

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Confluent by 10.5% during the third quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company’s stock worth $620,675,000 after buying an additional 2,970,708 shares during the last quarter. HBK Investments L P bought a new stake in shares of Confluent during the fourth quarter worth about $453,600,000. Champlain Investment Partners LLC raised its holdings in shares of Confluent by 6.7% in the 2nd quarter. Champlain Investment Partners LLC now owns 11,590,026 shares of the company’s stock worth $288,939,000 after acquiring an additional 727,943 shares during the last quarter. Jericho Capital Asset Management L.P. raised its holdings in shares of Confluent by 34.2% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 11,094,000 shares of the company’s stock worth $335,483,000 after acquiring an additional 2,828,000 shares during the last quarter. Finally, Norges Bank bought a new position in Confluent in the 4th quarter valued at about $265,669,000. 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.