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 $2,770,000 were purchased by THE VALLEY VIEW TRUST U/ADTD 0 on Nov 13 ’24. At $27.70 per share, THE VALLEY VIEW TRUST U/ADTD 0 acquired 100,000 shares.
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Also, THE VISHRIA REVOCABLE TRUST U/ purchased 60,000 shares, netting a total of over 1,662,000 in proceeds.
Before that, THE KHAKAL TRUST U/T/A DTD 10/ had added 1,905 shares to its account. In a trade valued at $52,768, the Director bought Confluent Inc shares for $27.70 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 surge of approximately 3.52%. Over the course of the year, Confluent Inc shares have jumped approximately 21.92%. 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 $22.24, while a 200-day SMA reached $26.33. Nevertheless, trading volume fell to 4.2 million shares from 2.98 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 28.19, which, if violated, would cause prices to drop to 27.86. In the upper region, resistance lies at 29.17. The next price resistance is at 29.82. RSI (Relative Strength Index) is 73.33 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.13, which suggests the price will increase in the coming days. Percent R is at 20.21%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
