Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Confluent Inc shares valued at $3,963,929 were purchased by SEQUOIA CAPITAL FUND PARALLEL, on Nov 07 ’24. At $27.51 per share, SEQUOIA CAPITAL FUND PARALLEL, acquired 144,080 shares.
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Also, SEQUOIA CAPITAL FUND, LP purchased 923,162 shares, netting a total of over 25,398,033 in proceeds.
Before that, Volpi Michelangelo had sold 477,952 shares from its account. In a trade valued at $12,620,562, the Director traded Confluent Inc shares for $26.41 each. Upon closing the transaction, the insider’s holdings decreased to 477,952 shares, worth approximately $0.0.
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 surge of approximately 5.31%. Over the course of the year, Confluent Inc shares have jumped approximately 17.78%. 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 $21.51, while a 200-day SMA reached $26.21. Nevertheless, trading volume fell to 5.66 million shares from 6.76 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 26.93, which, if violated, would cause prices to drop to 26.29. In the upper region, resistance lies at 28.15. The next price resistance is at 28.73. RSI (Relative Strength Index) is 80.06 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.85, which suggests the price will increase in the coming days. Percent R is at 17.59%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
