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

by · The Markets Daily

Confluent, Inc. (NASDAQ:CFLT – Get Free Report) CRO Ban Ryan Norris Mac sold 19,756 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $30.66, for a total value of $605,718.96. Following the completion of the transaction, the executive directly 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 ownership of the stock. The transaction was disclosed in a 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 shares were 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 stock was sold at an average price of $30.61, for a total transaction 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 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 stock was 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 shares were sold at an average price of $29.77, for a total value of $1,313,273.78.

Confluent Stock Down 0.2%

CFLT stock traded down $0.06 on Tuesday, hitting $30.63. 10,891,518 shares of the company’s stock were exchanged, compared to its average volume of 19,063,820. The firm has a 50 day moving average price of $30.39 and a two-hundred day moving average price of $24.73. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $33.00. The stock has a market cap of $10.95 billion, a P/E ratio of -35.62 and a beta of 0.95. 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 (NASDAQ:CFLT – Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The business had revenue of $314.82 million during the quarter, compared to the consensus estimate of $308.03 million. During the same quarter last year, the company earned $0.09 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, equities research analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CFLT. Needham & Company LLC lowered Confluent from a “buy” rating to a “hold” rating in a research note on Monday, December 8th. Mizuho cut Confluent from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. FBN Securities reaffirmed an “outperform” rating and set a $28.00 target price on shares of Confluent in a report on Tuesday, October 28th. Citizens Jmp downgraded shares of Confluent from an “outperform” rating to a “market perform” rating in a report on Friday, January 9th. Finally, Stephens raised their price target on shares of Confluent from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.71.

Get Our Latest Report on Confluent

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of 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 purchasing an additional 57,928 shares in the last quarter. Hsbc Holdings PLC grew its stake in Confluent by 655.7% in the 2nd quarter. Hsbc Holdings PLC now owns 243,596 shares of the company’s stock valued at $6,013,000 after acquiring an additional 211,360 shares during the period. Persistent Asset Partners Ltd acquired a new position in Confluent during the second quarter worth $499,000. Neuberger Berman Group LLC purchased a new position in Confluent during the second quarter valued at $305,000. Finally, First Trust Advisors LP grew 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 valued at $113,579,000 after purchasing an additional 616,822 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

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.

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