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 $648,284 were sold by GURLEY J WILLIAM on Aug 09. At $31.33 per share, GURLEY J WILLIAM sold 20,694 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Hu An-Yen sold 24,545 shares, netting a total of over 757,201 in proceeds. Following the sale of shares at $30.85 each, the insider now holds 180,170 shares.
Before that, Chadwick Jonathan had sold 16,625 shares from its account. In a trade valued at $557,457, the Director traded Confluent Inc. shares for $33.53 each. Upon closing the transaction, the insider’s holdings decreased to 16,625 shares, worth approximately $0.24 million.
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 -14.63% 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] plunged -4.62% to $30.95. The stock’s lowest price that day was $29.995, but it reached a high of $33.4299 in the same session. During the last five days, there has been a drop of approximately -4.30%. Over the course of the year, Confluent Inc. shares have dropped approximately -59.40%. Shares of the company reached a 52-week high of $81.11 on 02/10/22 and a 52-week low of $16.48 on 05/24/22. A 50-day SMA is recorded $24.92, while a 200-day SMA reached $45.99. Nevertheless, trading volume fell to 3.27 million shares from 3.65 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 29.49, which, if violated, would cause prices to drop to 28.02. In the upper region, resistance lies at 32.92. The next price resistance is at 34.89. RSI (Relative Strength Index) is 58.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.95, which suggests the price will increase in the coming days. Percent R is at 28.94%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Confluent Inc. subject to short interest?
Stocks of Confluent Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 6.52 million shares to 16.1 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.58 million shares. A jump of 40.5% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.69 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.69.
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 $248,407,154. Durable Capital Partners LP acquire a 6.78% interest valued at $170.33 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 $86.79 million.