Key Points
- CFO Rohan Sivaram sold 29,996 shares on March 12 at an average price of $30.67 for about $919,977, cutting his direct stake by 5.34% to 531,971 shares (≈$16.3M).
- Confluent posted quarterly EPS of $0.12 (beat by $0.02) and revenue of $314.82M (beat estimates) but remains unprofitable with a net margin of -25.31% and negative ROE.
- The stock carries a consensus Hold rating with an average price target of $28.71, institutional investors own ~78% of shares, and management also sold 21,503 shares on Feb 20, indicating recent insider selling.
Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CFO Rohan Sivaram sold 29,996 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $30.67, for a total transaction of $919,977.32. Following the completion of the sale, the chief financial officer directly owned 531,971 shares in the company, valued at $16,315,550.57. This represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Rohan Sivaram also recently made the following trade(s):
- On Friday, February 20th, Rohan Sivaram sold 21,503 shares of Confluent stock. The stock was sold at an average price of $30.70, for a total transaction of $660,142.10.
Confluent Stock Down 0.1%
Shares of CFLT opened at $30.67 on Friday. The firm has a market cap of $10.97 billion, a PE ratio of -35.66 and a beta of 0.95. The company's fifty day moving average is $30.56 and its two-hundred day moving average is $25.84. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $30.81. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.94.
Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $314.82 million during the quarter, compared to analysts' expectations of $308.03 million. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The business's quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. Analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Canaccord Genuity Group lowered Confluent from a "buy" rating to a "hold" rating and upped their price target for the stock from $27.00 to $31.00 in a research note on Monday, December 8th. Piper Sandler lowered Confluent from an "overweight" rating to a "hold" rating and set a $31.00 price objective on the stock. in a research note on Monday, December 8th. William Blair cut Confluent from an "outperform" rating to a "market perform" rating in a report on Monday, December 8th. Wells Fargo & Company reissued an "equal weight" rating and set a $31.00 target price on shares of Confluent in a research report on Monday, December 8th. Finally, Citigroup raised their price target on shares of Confluent from $26.00 to $31.00 and gave the company a "neutral" rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $28.71.
Get Our Latest Stock Analysis on Confluent
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC lifted its stake in shares of Confluent by 2,685.8% during the fourth quarter. Hsbc Holdings PLC now owns 694,497 shares of the company's stock worth $21,026,000 after purchasing an additional 669,567 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Confluent by 74.9% in the fourth 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 in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Confluent by 2,048.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,289,720 shares of the company's stock valued at $39,001,000 after buying an additional 1,229,696 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Confluent during the 4th quarter valued at about $513,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in Confluent during the 4th quarter worth approximately $457,000. 78.09% of the stock is owned by hedge funds and other institutional investors.
About Confluent
(
Get Free Report)
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.
Further Reading
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