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 $3,823 were sold by Phan Kong on Sep 20 ’24. At $20.12 per share, Phan Kong sold 190 shares. The insider’s holdings dropped to 124,652 shares worth approximately $2.36 million following the completion of this transaction.
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Also, Kreps Edward Jay sold 232,500 shares, netting a total of over 4,647,675 in proceeds. Following the sale of shares at $19.99 each, the insider now holds 452,488 shares.
Before that, EDWARD JAY KREPS had added 232,500 shares to its account. In a trade valued at $4,736,025, the Officer bought Confluent Inc shares for $20.37 each.
As published in their initiating research note from Robert W. Baird on September 04, 2024, Confluent Inc [CFLT] has been a Neutral and the price target has been revised to $23. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early August. As of June 11, 2024, Evercore ISI has initiated its “an Outperform” rating for CFLT. Earlier on May 17, 2024, Oppenheimer initiated its rating. Their recommendation was “an Outperform” for CFLT stock.
Analyzing CFLT Stock Performance
During the last five days, there has been a drop of approximately -3.81%. Over the course of the year, Confluent Inc shares have dropped approximately -19.06%. Shares of the company reached a 52-week high of $35.07 on 03/04/24 and a 52-week low of $17.79 on 08/05/24. A 50-day SMA is recorded $20.76, while a 200-day SMA reached $26.20. Nevertheless, trading volume fell to 2.77 million shares from 4.09 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 18.66, which, if violated, would cause prices to drop to 18.38. In the upper region, resistance lies at 19.17. The next price resistance is at 19.41. RSI (Relative Strength Index) is 38.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.93, which suggests the price will decrease in the coming days. Percent R is at 88.58%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
