Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Confluent Inc shares valued at $113,437 were sold by Phan Kong on Dec 20 ’24. At $28.74 per share, Phan Kong sold 3,947 shares. The insider’s holdings dropped to 179,939 shares worth approximately $5.4 million following the completion of this transaction.
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Also, Narkhede Neha sold 186,300 shares, netting a total of over 5,710,300 in proceeds. Following the sale of shares at $30.65 each, the insider now holds 20,247 shares.
Before that, Phan Kong had sold 12,460 shares from its account. In a trade valued at $389,951, the Chief Accounting Officer traded Confluent Inc shares for $31.30 each. Upon closing the transaction, the insider’s holdings decreased to 12,460 shares, worth approximately $5.52 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 -4.28%. Over the course of the year, Confluent Inc shares have jumped approximately 28.21%. 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 $27.91, while a 200-day SMA reached $26.25. Nevertheless, trading volume fell to 0.95 million shares from 2.3 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 29.72, which, if violated, would cause prices to drop to 29.42. In the upper region, resistance lies at 30.25. The next price resistance is at 30.48. RSI (Relative Strength Index) is 50.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.05, which suggests the price will decrease in the coming days. Percent R is at 62.91%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
