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Insider Selling: Verbowski Chad, Confluent Inc [CFLT] CHIEF TECHNOLOGY OFFICER divested 8,312 shares

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Confluent Inc shares valued at $222,402 were sold by Verbowski Chad on Jun 20 ’24. At $26.76 per share, Verbowski Chad sold 8,312 shares. The insider’s holdings dropped to 510,347 shares worth approximately $14.75 million following the completion of this transaction.

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Also, Sivaram Rohan sold 858 shares, netting a total of over 22,957 in proceeds. Following the sale of shares at $26.76 each, the insider now holds 578,263 shares.

Before that, MILLER MATTHEW CRAIG had sold 25,000 shares from its account. In a trade valued at $694,215, the Director traded Confluent Inc shares for $27.77 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $6.3 million.

As published in their initiating research note from Evercore ISI on June 11, 2024, Confluent Inc [CFLT] has been an Outperform and the price target has been revised to $35. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid May. As of May 08, 2024, Canaccord Genuity has increased its “Hold” rating to a “Buy” for CFLT. Earlier on February 21, 2024, Stifel initiated its rating. Their recommendation was “a Buy” for CFLT stock.

Analyzing CFLT Stock Performance

During the last five days, there has been a surge of approximately 4.94%. Over the course of the year, Confluent Inc shares have jumped approximately 23.55%. 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 $28.70, while a 200-day SMA reached $27.20. Nevertheless, trading volume fell to 1.34 million shares from 2.28 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 28.21, which, if violated, would cause prices to drop to 27.83. In the upper region, resistance lies at 29.26. The next price resistance is at 29.93. RSI (Relative Strength Index) is 54.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.69, which suggests the price will decrease in the coming days. Percent R is at 39.84%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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