Stephanie Buscemi Sells 22,906 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 22,906 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.00, for a total value of $710,086.00. Following the completion of the transaction, the chief marketing officer now directly owns 144,373 shares of the company’s stock, valued at $4,475,563. The trade was a 13.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, November 25th, Stephanie Buscemi sold 26,047 shares of Confluent stock. The stock was sold at an average price of $32.89, for a total value of $856,685.83.
• On Wednesday, November 20th, Stephanie Buscemi sold 5,271 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $148,800.33.
• On Friday, November 1st, Stephanie Buscemi sold 164,123 shares of Confluent stock. The shares were sold at an average price of $26.24, for a total transaction of $4,306,587.52.

Confluent Stock Down 2.9 %

CFLT stock traded down $0.94 during mid-day trading on Tuesday, reaching $31.29. The company had a trading volume of 5,737,635 shares, compared to its average volume of 4,398,792. The firm has a fifty day simple moving average of $23.58 and a 200 day simple moving average of $24.58. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of -28.19 and a beta of 0.82. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data 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. The business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on CFLT. Piper Sandler cut their price target on Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price target on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. TD Cowen upped their price objective on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada lifted their target price on shares of Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, DA Davidson reiterated a “buy” rating and issued a $30.00 target price on shares of Confluent in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CFLT. UniSuper Management Pty Ltd boosted its position in shares of Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares during the period. Advisors Asset Management Inc. grew its position in shares of Confluent by 40.3% during the first 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 increased its holdings in shares of Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after acquiring an additional 1,167 shares during the period. iA Global Asset Management Inc. acquired a new stake in Confluent during the 1st quarter worth $4,376,000. Finally, Cetera Advisors LLC grew its position in Confluent by 209.6% during the 1st quarter. Cetera Advisors LLC now owns 31,971 shares of the company’s stock worth $976,000 after purchasing an additional 21,646 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.