Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Confluent Inc shares valued at $1,944,436 were sold by Vishria Eric on May 21 ’24. At $31.41 per share, Vishria Eric sold 61,905 shares. The insider’s holdings dropped to 1,371,068 shares worth approximately $42.5 million following the completion of this transaction.
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Also, Sivaram Rohan sold 21,045 shares, netting a total of over 672,598 in proceeds. Following the sale of shares at $31.96 each, the insider now holds 579,121 shares.
Before that, Verbowski Chad had sold 13,413 shares from its account. In a trade valued at $428,679, the CHIEF TECHNOLOGY OFFICER traded Confluent Inc shares for $31.96 each. Upon closing the transaction, the insider’s holdings decreased to 13,413 shares, worth approximately $16.08 million.
As published in their initiating research note from Oppenheimer on May 17, 2024, Confluent Inc [CFLT] has been an Outperform and the price target has been revised to $37. Analysts at Canaccord Genuity upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early May. As of February 21, 2024, Stifel has initiated its “Buy” rating for CFLT. Earlier on January 30, 2024, Loop Capital initiated its rating. Their recommendation was “a Hold” for CFLT stock.
Analyzing CFLT Stock Performance
During the last five days, there has been a drop of approximately -1.68%. Over the course of the year, Confluent Inc shares have jumped approximately 32.48%. 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 $29.85, while a 200-day SMA reached $27.93. Nevertheless, trading volume fell to 4.58 million shares from 2.6 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 30.44, which, if violated, would cause prices to drop to 29.88. In the upper region, resistance lies at 32.06. The next price resistance is at 33.12. RSI (Relative Strength Index) is 53.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.71, which suggests the price will decrease in the coming days. Percent R is at 30.29%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
