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

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 26,047 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $32.89, for a total value of $856,685.83. Following the completion of the sale, the chief marketing officer now owns 144,373 shares of the company’s stock, valued at $4,748,427.97. The trade was a 15.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, November 22nd, Stephanie Buscemi sold 22,906 shares of Confluent stock. The shares were 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 shares were sold at an average price of $26.24, for a total value of $4,306,587.52.

Confluent Trading Down 2.3 %

Shares of Confluent stock opened at $30.57 on Thursday. The company has a market cap of $10.03 billion, a price-to-earnings ratio of -27.54 and a beta of 0.82. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The company’s fifty day simple moving average is $23.79 and its 200-day simple moving average is $24.59. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last posted 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. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The company had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. As a group, sell-side analysts expect that Confluent, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CFLT. Bank of America lowered their price objective on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. Evercore ISI cut their price objective on Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Wells Fargo & Company lowered their target price on Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, DA Davidson reaffirmed a “buy” rating and set a $30.00 price target on shares of Confluent in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Trading of Confluent

Hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Confluent during the second quarter valued at approximately $68,000. UniSuper Management Pty Ltd boosted its stake in Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after buying an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. raised its stake 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 valued at $91,000 after buying an additional 859 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Confluent during the 3rd quarter worth about $68,000. Finally, Lazard Asset Management LLC boosted its position 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 valued at $175,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Confluent Company Profile

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.