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

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

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 value of $710,086.00.
• On Wednesday, November 20th, Stephanie Buscemi sold 5,271 shares of Confluent stock. The stock was 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 stock was sold at an average price of $26.24, for a total value of $4,306,587.52.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $30.57 on Friday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07. The stock’s 50 day moving average price is $24.00 and its 200-day moving average price is $24.63. The company has a market capitalization of $10.03 billion, a PE ratio of -27.54 and a beta of 0.82. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last announced 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 firm had revenue of $250.20 million for 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%. On average, equities analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CFLT shares. DA Davidson reissued a “buy” rating and issued a $30.00 price objective on shares of Confluent in a research report on Wednesday, September 18th. Barclays raised their target price on Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Robert W. Baird raised their target price on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Sanford C. Bernstein reduced their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Scotiabank raised their target price on Confluent from $25.00 to $27.00 and gave the company 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Confluent presently has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Institutional Investors Weigh In On Confluent

A number of hedge funds have recently modified their holdings of CFLT. V Square Quantitative Management LLC bought a new stake in shares of Confluent in the 2nd quarter worth approximately $68,000. Point72 Hong Kong Ltd bought a new stake in shares of Confluent in the 3rd quarter worth approximately $68,000. UniSuper Management Pty Ltd raised its holdings 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 worth $82,000 after purchasing an additional 1,500 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares during the period. Finally, Lazard Asset Management LLC raised 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 worth $175,000 after purchasing an additional 1,167 shares during the period. 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.