Confluent Sees Unusually High Options Volume (NASDAQ:CFLT)

Confluent, Inc. (NASDAQ:CFLTGet Free Report) saw unusually large options trading activity on Thursday. Stock investors purchased 20,558 call options on the stock. This represents an increase of 238% compared to the typical volume of 6,085 call options.

Confluent Stock Performance

Shares of CFLT stock opened at $32.57 on Friday. The company has a market cap of $10.03 billion, a price-to-earnings ratio of -21.15 and a beta of 0.69. The stock has a 50 day simple moving average of $23.35 and a 200-day simple moving average of $26.89. Confluent has a 12-month low of $14.69 and a 12-month high of $41.22. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.38.

Insider Buying and Selling

In related news, insider Erica Schultz sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $19.28, for a total value of $964,000.00. Following the transaction, the insider now owns 479,537 shares of the company’s stock, valued at $9,245,473.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Confluent news, CTO Chad Verbowski sold 8,859 shares of Confluent stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $18.73, for a total transaction of $165,929.07. Following the transaction, the chief technology officer now owns 417,944 shares of the company’s stock, valued at $7,828,091.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erica Schultz sold 50,000 shares of Confluent stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $19.28, for a total transaction of $964,000.00. Following the sale, the insider now owns 479,537 shares in the company, valued at approximately $9,245,473.36. The disclosure for this sale can be found here. Insiders sold a total of 439,216 shares of company stock worth $10,241,051 in the last three months. 22.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Confluent

Institutional investors and hedge funds have recently modified their holdings of the company. California Public Employees Retirement System purchased a new position in shares of Confluent in the 3rd quarter worth $8,757,000. Pursue Wealth Partners LLC purchased a new position in Confluent in the third quarter valued at about $3,906,000. Roubaix Capital LLC purchased a new position in Confluent in the third quarter valued at about $3,014,000. Asset Management One Co. Ltd. purchased a new position in Confluent in the third quarter valued at about $4,240,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Confluent in the third quarter valued at about $10,118,000. Institutional investors and hedge funds own 59.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CFLT shares. Scotiabank increased their price objective on shares of Confluent from $22.00 to $28.00 and gave the company a “sector perform” rating in a research report on Thursday. Loop Capital initiated coverage on shares of Confluent in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 price objective for the company. Guggenheim upgraded Confluent from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, November 3rd. Canaccord Genuity Group cut Confluent from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a report on Thursday, November 2nd. Finally, Sanford C. Bernstein initiated coverage on Confluent in a report on Tuesday, November 28th. They issued an “outperform” rating and a $34.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.42.

Check Out Our Latest Analysis on CFLT

About Confluent

(Get Free Report)

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

Featured Articles

Receive News & Ratings for Confluent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Confluent and related companies with MarketBeat.com's FREE daily email newsletter.