Investors Buy High Volume of Confluent Put Options (NASDAQ:CFLT)

by · The Markets Daily

Confluent, Inc. (NASDAQ:CFLT – Get Free Report) saw unusually large options trading on Tuesday. Stock investors acquired 14,014 put options on the stock. This is an increase of 49% compared to the typical daily volume of 9,415 put options.

Confluent Stock Up 1.7 %

NASDAQ:CFLT traded up $0.41 during trading hours on Tuesday, reaching $24.81. The company’s stock had a trading volume of 4,560,752 shares, compared to its average volume of 4,237,320. Confluent has a 12 month low of $17.79 and a 12 month high of $37.90. The stock has a 50 day moving average price of $29.85 and a two-hundred day moving average price of $26.68. The company has a market capitalization of $8.29 billion, a P/E ratio of -22.94 and a beta of 0.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

Confluent (NASDAQ:CFLT – Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Equities analysts predict that Confluent will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Kong Phan sold 12,460 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $31.30, for a total value of $389,998.00. Following the sale, the chief accounting officer now directly owns 183,886 shares of the company’s stock, valued at $5,755,631.80. The trade was a 6.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at $14,628,937.04. This trade represents a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,248,478 shares of company stock valued at $40,003,844 over the last ninety days. Company insiders own 13.82% of the company’s stock.

Institutional Trading of Confluent

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its position in Confluent by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock worth $301,000 after purchasing an additional 328 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Confluent by 4.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after buying an additional 458 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after buying an additional 503 shares during the period. Truist Financial Corp grew its stake in Confluent by 2.5% in the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after acquiring an additional 514 shares during the period. Finally, Jasper Ridge Partners L.P. increased its holdings in Confluent by 4.8% in the 4th quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company’s stock worth $403,000 after acquiring an additional 664 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Ratings Changes

CFLT has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Evercore ISI raised their price objective on shares of Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Scotiabank raised their target price on shares of Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada boosted their price target on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Bank of America increased their price target on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Check Out Our Latest Analysis on Confluent

Confluent Company Profile

(Get Free Report)

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.

Read More