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 $5,710,300 were sold by Narkhede Neha on Dec 13 ’24. At $30.65 per share, Narkhede Neha sold 186,300 shares. The insider’s holdings dropped to 20,247 shares worth approximately $0.58 million following the completion of this transaction.
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Also, Phan Kong sold 12,460 shares, netting a total of over 389,951 in proceeds. Following the sale of shares at $31.30 each, the insider now holds 183,886 shares.
Before that, Caimi Lara had sold 34,500 shares from its account. In a trade valued at $1,080,540, the Director traded Confluent Inc shares for $31.32 each. Upon closing the transaction, the insider’s holdings decreased to 34,500 shares, worth approximately $0.2 million.
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 -9.04%. Over the course of the year, Confluent Inc shares have jumped approximately 21.75%. 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 $27.45, while a 200-day SMA reached $26.28. Nevertheless, trading volume fell to 5.94 million shares from 4.07 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 27.93, which, if violated, would cause prices to drop to 27.36. In the upper region, resistance lies at 29.48. The next price resistance is at 30.46. RSI (Relative Strength Index) is 42.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.67, which suggests the price will decrease in the coming days. Percent R is at 97.56%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
