Chief Technology Officer Verbowski Chad sold 8,502 shares of Confluent Inc [CFLT]

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Confluent Inc shares valued at $203,623 were sold by Verbowski Chad on Dec 21. At $23.95 per share, Verbowski Chad sold 8,502 shares. The insider’s holdings dropped to 409,442 shares worth approximately $9.16 million following the completion of this transaction.

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Also, Sivaram Rohan sold 858 shares, netting a total of over 20,549 in proceeds. Following the sale of shares at $23.95 each, the insider now holds 326,512 shares.

Before that, Liu Ying Christina had sold 594 shares from its account. In a trade valued at $14,226, the Chief Accounting Officer traded Confluent Inc shares for $23.95 each. Upon closing the transaction, the insider’s holdings decreased to 594 shares, worth approximately $2.83 million.

As published in their initiating research note from Loop Capital on January 30, 2024, Confluent Inc [CFLT] has been a Hold and the price target has been revised to $23.

Analyzing CFLT Stock Performance

During the last five days, there has been a surge of approximately 0.40%. Over the course of the year, Confluent Inc shares have dropped approximately -4.44%. Shares of the company reached a 52-week high of $23.75 on 01/29/24 and a 52-week low of $21.03 on 01/18/24. A 50-day SMA is recorded $22.48, while a 200-day SMA reached $28.13. Nevertheless, trading volume fell to 3.49 million shares from 3.35 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 21.99, which, if violated, would cause prices to drop to 21.62. In the upper region, resistance lies at 23.06. The next price resistance is at 23.75. RSI (Relative Strength Index) is 47.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.59, which suggests the price will decrease in the coming days. Percent R is at 51.10%, indicating low 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 Jan 11, 2024 jumping by 1.93 million shares to 21.1 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 19.17 million shares. A jump of 9.15% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.42.

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