Rohan Sivaram Sells 21,045 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CFO Rohan Sivaram sold 21,045 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $31.96, for a total value of $672,598.20. Following the completion of the transaction, the chief financial officer now owns 579,121 shares in the company, valued at approximately $18,508,707.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rohan Sivaram also recently made the following trade(s):

• On Wednesday, March 20th, Rohan Sivaram sold 588 shares of Confluent stock. The stock was sold at an average price of $31.20, for a total value of $18,345.60.

Confluent Trading Up 1.3 %

Shares of Confluent stock traded up $0.42 during midday trading on Wednesday, reaching $31.96. The company had a trading volume of 2,713,915 shares, compared to its average volume of 4,715,645. The stock has a fifty day moving average price of $29.84 and a 200 day moving average price of $26.67. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07. The firm has a market cap of $10.16 billion, a PE ratio of -25.57 and a beta of 0.93. Confluent, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $41.22.

Hedge Funds Weigh In On Confluent

A number of hedge funds and other institutional investors have recently made changes to their positions in CFLT. Hollencrest Capital Management bought a new stake in Confluent in the first quarter worth approximately $26,000. UniSuper Management Pty Ltd bought a new stake in shares of Confluent during the third quarter valued at approximately $36,000. Rakuten Securities Inc. bought a new stake in shares of Confluent during the fourth quarter valued at approximately $31,000. Quest Partners LLC bought a new stake in Confluent during the fourth quarter worth $31,000. Finally, GAMMA Investing LLC bought a new stake in Confluent during the fourth quarter worth $35,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CFLT. Canaccord Genuity Group upgraded Confluent from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, May 8th. UBS Group raised their price target on Confluent from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. The Goldman Sachs Group raised their price target on Confluent from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Stifel Nicolaus initiated coverage on Confluent in a research report on Wednesday, February 21st. They issued a “buy” rating and a $40.00 target price on the stock. Finally, TD Cowen lifted their target price on Confluent from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.04.

Confluent Company Profile

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.