Checking in on Confluent Inc. (CFLT) after recent insiders movement

Confluent Inc.’s recent filing unveils that its Director Chadwick Jonathan unloaded Company’s shares for reported $0.56 million on Aug 05. In the deal valued at $33.53 per share,16,625 shares were sold. As a result of this transaction, Chadwick Jonathan now holds 7,688 shares worth roughly $ 0.26 million.

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Then, GERSTNER BRAD bought 32,853 shares, generating $618,757 in total proceeds. Upon buying the shares at $18.83, the 10% Owner now owns 14,456,310 shares.

Before that, Liu Ying Christina sold 692 shares. Confluent Inc. shares valued at $12,615 were divested by the Chief Accounting Officer at a price of $18.23 per share. As a result of the transaction, Liu Ying Christina now holds 32,114 shares, worth roughly $1.08 million.

Scotiabank initiated its Confluent Inc. [CFLT] rating to a Sector outperform in a research note published on Monday, June 09, 2022; the price target was $27. PT values the company’s stock at a premium of -24.3 to its Monday closing price. A number of analysts have revised their coverage, including DA Davidson’s analysts, who increased its forecast for the stock in late January from “a Neutral” to “a Buy”. William Blair started covering the stock on November 18, 2021. It rated CFLT as “an Outperform”.

Price Performance Review of CFLT

On Monday, Confluent Inc. [NASDAQ:CFLT] saw its stock fall -0.50% to $33.56. On the same session, the stock had its day’s lowest price of $31.57, but rose to a high of $34.39. Over the last five days, the stock has gained 29.33%. Confluent Inc. shares have fallen nearly -55.98% since the year began. Nevertheless, the stocks have fallen -24.36% over the past one year. While a 52-week high of $94.97 was reached on 02/10/22, a 52-week low of $16.48 was recorded on 05/24/22. SMA at 50 days reached $24.28, while 200 days put it at $46.55. A total of 4.19 million shares were traded, compared to the trading of 5.32 million shares in the previous session.

Levels Of Support And Resistance For CFLT Stock

The 24-hour chart illustrates a support level at 31.96, which if violated will result in even more drops to 30.35. On the upside, there is a resistance level at 34.78. A further resistance level may holdings at 35.99. The Relative Strength Index (RSI) on the 14-day chart is 70.92, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.73, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 6.98%. Stochastics %K at 95.50% indicates the stock is a selling.

How much short interest is there in Confluent Inc.?

A steep rise in short interest was recorded in Confluent Inc. stocks on Jul 14, 2022, growing by 6.52 million shares to a total of 16.1 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 9.58 million shares. There was a rise of 40.5%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.97% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.69.

Confluent Inc. [CFLT] – Who Are The Largest Shareholders?

In filings from Altimeter Capital Management LP, it is revealed that the company now owns 14,456,310 shares, or roughly 11.48% of the outstanding CFLT shares. In other words, the investor’s shares have risen by 9,149,610 from its previous 13-F filing of 5306700.0. Additionally, T. Rowe Price Associates, Inc. increased 241.61% of its stake after which the total value it holdings stand at $248,407,154, while Durable Capital Partners LP added 6.78% of its stake to hold $170.33 million in the firm. Over the last quarter, Fidelity Management & Research Co sold -2,723,796 shares of Confluent Inc., while The Vanguard Group, Inc. sold 2,498,300 shares. At present, JPMorgan Investment Management, I is holding 4,495,677 shares valued at $104.48 million. Franklin Advisers, Inc. owned 3,734,612 shares of the company at the time of its most recent 13F filing, worth $86.79 million.

According to FactSet, Confluent Inc.’s share price will average $37.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 6.73 percent from its previous closing price of $33.73. Analysts expect Confluent Inc. stock to reach the higher price of $65.00, while the lowest price estimate is $28.00. However, 18 analysts have rated CFLT stock as an Overweight in their predictions for 2022. The most recent change occurred on November 16, 2021 when Credit Suisse began covering the stock and recommended ‘”an Outperform”‘ rating along with a $115 price target.


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