Confluent Target of Unusually Large Options Trading (NASDAQ:CFLT)

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Confluent, Inc. (NASDAQ:CFLTGet Rating) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 5,215 put options on the stock. This is an increase of 114% compared to the typical volume of 2,435 put options.

Analysts Set New Price Targets

Several analysts have recently weighed in on CFLT shares. Deutsche Bank Aktiengesellschaft boosted their price target on Confluent from $28.00 to $32.00 in a report on Thursday, August 4th. Wells Fargo & Company upped their target price on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. UBS Group upped their target price on Confluent from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Scotiabank began coverage on Confluent in a report on Wednesday, June 8th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Citigroup upped their target price on Confluent from $26.00 to $32.00 in a report on Thursday, August 4th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.64.

Insider Activity at Confluent

In related news, Director Jonathan Chadwick sold 16,625 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $33.53, for a total value of $557,436.25. Following the completion of the transaction, the director now owns 7,688 shares of the company’s stock, valued at $257,778.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Confluent news, Director Jonathan Chadwick sold 16,625 shares of Confluent stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $33.53, for a total value of $557,436.25. Following the transaction, the director now owns 7,688 shares in the company, valued at $257,778.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder An-Yen Hu sold 24,545 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $30.85, for a total value of $757,213.25. Following the sale, the insider now owns 180,170 shares in the company, valued at $5,558,244.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 232,270 shares of company stock valued at $7,122,179. 27.94% of the stock is owned by corporate insiders.

Institutional Trading of Confluent

Institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Confluent during the 2nd quarter worth about $26,000. Advisors Asset Management Inc. purchased a new stake in shares of Confluent in the 1st quarter valued at about $30,000. Byrne Asset Management LLC purchased a new stake in shares of Confluent in the 4th quarter valued at about $31,000. James Investment Research Inc. raised its holdings in shares of Confluent by 716.9% in the 2nd quarter. James Investment Research Inc. now owns 1,356 shares of the company’s stock valued at $32,000 after acquiring an additional 1,190 shares in the last quarter. Finally, Baldwin Brothers LLC MA purchased a new stake in shares of Confluent in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 40.65% of the company’s stock.

Confluent Stock Down 5.1 %

CFLT stock opened at $23.75 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 5.83 and a current ratio of 5.83. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of -14.57 and a beta of 1.16. Confluent has a fifty-two week low of $16.48 and a fifty-two week high of $94.97. The stock has a fifty day moving average of $27.52 and a 200-day moving average of $28.55.

Confluent (NASDAQ:CFLTGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.41) earnings per share for the quarter, hitting the consensus estimate of ($0.41). The company had revenue of $139.41 million during the quarter, compared to the consensus estimate of $131.21 million. Confluent had a negative return on equity of 50.24% and a negative net margin of 90.30%. As a group, equities research analysts predict that Confluent will post -1.63 earnings per share for the current year.

Confluent Company Profile

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Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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