Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Confluent Inc shares valued at $252,283 were sold by Verbowski Chad on Mar 20 ’24. At $31.20 per share, Verbowski Chad sold 8,086 shares. The insider’s holdings dropped to 532,072 shares worth approximately $15.87 million following the completion of this transaction.
Also, Sivaram Rohan sold 588 shares, netting a total of over 18,346 in proceeds. Following the sale of shares at $31.20 each, the insider now holds 600,166 shares.
Before that, Liu Ying Christina had sold 407 shares from its account. In a trade valued at $12,698, the CHIEF ACCOUNTING OFFICER traded Confluent Inc shares for $31.20 each. Upon closing the transaction, the insider’s holdings decreased to 407 shares, worth approximately $5.02 million.
As published in their initiating research note from Stifel on February 21, 2024, Confluent Inc [CFLT] has been a Buy and the price target has been revised to $40. Analysts at Loop Capital started covering the stock with ‘”a Hold”‘ outlook in a report released in late January. As of November 28, 2023, Bernstein has initiated its “an Outperform” rating for CFLT. Earlier on November 08, 2023, CapitalOne upgraded its rating. Their new recommendation was “an Overweight” for CFLT stock which previously was a “an Equal weight”.
Analyzing CFLT Stock Performance
During the last five days, there has been a surge of approximately 1.88%. Over the course of the year, Confluent Inc shares have jumped approximately 27.44%. Shares of the company reached a 52-week high of $35.07 on 03/04/24 and a 52-week low of $21.03 on 01/18/24. A 50-day SMA is recorded $30.81, while a 200-day SMA reached $28.81. Nevertheless, trading volume fell to 2.88 million shares from 2.13 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 29.29, which, if violated, would cause prices to drop to 28.76. In the upper region, resistance lies at 30.13. The next price resistance is at 30.44. RSI (Relative Strength Index) is 45.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 63.91%, 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 Mar 15, 2024 jumping by 0.54 million shares to 19.02 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 18.48 million shares. A jump of 2.84% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.37 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.37.
