Stephanie Buscemi Sells 164,123 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 164,123 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $26.24, for a total value of $4,306,587.52. Following the completion of the sale, the chief marketing officer now directly owns 149,644 shares in the company, valued at approximately $3,926,658.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stephanie Buscemi also recently made the following trade(s):

• On Tuesday, August 20th, Stephanie Buscemi sold 3,866 shares of Confluent stock. The stock was sold at an average price of $21.68, for a total value of $83,814.88.

Confluent Stock Performance

Shares of NASDAQ CFLT traded down $0.20 during trading on Tuesday, hitting $26.43. The company had a trading volume of 3,201,434 shares, compared to its average volume of 4,348,270. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a 12 month low of $16.69 and a 12 month high of $35.07. The stock has a 50 day simple moving average of $21.14 and a 200 day simple moving average of $24.62. The firm has a market capitalization of $8.53 billion, a P/E ratio of -23.81 and a beta of 0.82.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. As a group, analysts anticipate that Confluent, Inc. will post -0.94 earnings per share for the current year.

Institutional Trading of Confluent

Several institutional investors have recently made changes to their positions in CFLT. V Square Quantitative Management LLC purchased a new position in Confluent during the 2nd quarter valued at approximately $68,000. UniSuper Management Pty Ltd lifted its stake in shares of Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Confluent during the 2nd quarter worth approximately $175,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the topic of several recent research reports. Barclays upped their price target on Confluent from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Piper Sandler cut their target price on Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Loop Capital cut their target price on Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. increased their target price on Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

About Confluent

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.