The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Confluent Inc. shares valued at $618,757 were purchased by GERSTNER BRAD on Jun 15. At $18.83 per share, GERSTNER BRAD acquired 32,853 shares. The insider’s holdings grew to 14,456,310 shares worth approximately $335.68 million following the completion of this transaction.
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Also, Liu Ying Christina sold 692 shares, netting a total of over 12,615 in proceeds. Following the sale of shares at $18.23 each, the insider now holds 32,114 shares.
Before that, INDEX VENTURES VII (JERSEY), L had sold 16,261 shares from its account. In a trade valued at $297,179, the 10% Owner traded Confluent Inc. shares for $18.28 each. Upon closing the transaction, the insider’s holdings decreased to 16,261 shares, worth approximately $0.0.
As published in their initiating research note from Scotiabank on June 09, 2022, Confluent Inc. [CFLT] has been a Sector outperform and the price target has been revised to $27. This represents a 14.0% premium over Thursday’s closing price. Analysts at DA Davidson upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late January. Earlier on November 18, 2021, William Blair initiated its rating. Their recommendation was “an Outperform” for CFLT stock.
Analyzing CFLT’s Price Performance
On Thursday, Confluent Inc. [NASDAQ: CFLT] rose 7.40% to $23.22. The stock’s lowest price that day was $21.73, but it reached a high of $23.45 in the same session. During the last five days, there has been a surge of approximately 19.08%. Over the course of the year, Confluent Inc. shares have dropped approximately -69.54%. A 50-day SMA is recorded $25.27, while a 200-day SMA reached $52.55. Nevertheless, trading volume fell to 2.24 million shares from 3.29 million shares the previous day.
Support And Resistance Levels for Confluent Inc. (CFLT)
According to the 24-hour chart, there is a support level at 22.15, which, if violated, would cause prices to drop to 21.08. In the upper region, resistance lies at 23.87. The next price resistance is at 24.52. RSI (Relative Strength Index) is 54.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.13, which suggests the price will increase in the coming days. Percent R is at 5.75%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Confluent Inc. (CFLT)?
According to Altimeter Capital Management LP filings, the company currently owns 14,456,310 shares, which is about 11.48% of the total CFLT shares outstanding. The investor’s shares have appreciated by 9,149,610 from its previous 13-F filing of 5306700.0 shares. With the completion of the buy transaction, T. Rowe Price Associates, Inc.’s stake is now worth $225,853,837. Durable Capital Partners LP acquire a 6.78% interest valued at $154.87 million while Fidelity Management & Research Co sold a -2,723,796 stake. A total of 2,498,300 shares of Confluent Inc. were sold by The Vanguard Group, Inc. during the quarter, and 224,717 were bought by JPMorgan Investment Management, I. In its current portfolio, Franklin Advisers, Inc. holds 3,734,612 shares valued at $78.91 million.
In terms of Confluent Inc. share price expectations, FactSet research, analysts set an average price target of $39.13 in the next 12 months, up nearly 68.83% from the previous closing price of $21.62. Analysts anticipate Confluent Inc. stock to reach $80.00 by 2022, with the lowest price target being $27.00. In spite of this, 18 analysts ranked Confluent Inc. stock as an Overweight at the end of 2022. On November 16, 2021, Credit Suisse assigned a price target of “an Outperform” to the stock and initiated coverage with a $115.