Confluent, Inc. (NASDAQ:CFLT) CMO Sells $856,685.83 in Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 26,047 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $32.89, for a total transaction of $856,685.83. Following the transaction, the chief marketing officer now directly owns 144,373 shares in the company, valued at $4,748,427.97. This trade represents a 15.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, November 22nd, Stephanie Buscemi sold 22,906 shares of Confluent stock. The stock was sold at an average price of $31.00, for a total transaction of $710,086.00.
• 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 transaction 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 value of $4,306,587.52.

Confluent Price Performance

Shares of Confluent stock traded down $0.94 during midday 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 stock has a fifty day simple moving average of $23.58 and a 200 day simple moving average of $24.58. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. 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 (NASDAQ:CFLT) last released its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, equities research analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

CFLT has been the topic of several recent research reports. Citigroup lifted their price objective on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. TD Cowen raised their price objective on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, Scotiabank raised their price target on shares of Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CFLT. Tidal Investments LLC raised its stake in shares of Confluent by 521.0% during the third quarter. Tidal Investments LLC now owns 50,545 shares of the company’s stock worth $1,030,000 after buying an additional 42,406 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Confluent by 21.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company’s stock valued at $384,000 after acquiring an additional 3,298 shares during the last quarter. Westside Investment Management Inc. lifted its stake in shares of Confluent by 11,796.1% in the 3rd quarter. Westside Investment Management Inc. now owns 12,253 shares of the company’s stock valued at $250,000 after purchasing an additional 12,150 shares during the period. Geode Capital Management LLC boosted its position in shares of Confluent by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock worth $88,180,000 after purchasing an additional 107,510 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Confluent during the third quarter worth $634,000. Institutional investors 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.