Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CMO Sells 5,271 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 5,271 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $148,800.33. Following the transaction, the chief marketing officer now directly owns 144,373 shares of the company’s stock, valued at $4,075,649.79. The trade was a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $4,306,587.52.

Confluent Trading Up 3.0 %

Shares of Confluent stock opened at $31.52 on Friday. The firm has a 50-day moving average of $23.35 and a 200-day moving average of $24.62. The stock has a market cap of $10.34 billion, a PE ratio of -28.40 and a beta of 0.82. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. 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 (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share 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 business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. As a group, sell-side analysts forecast that Confluent, Inc. will post -0.9 EPS for the current year.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of recent analyst reports. DA Davidson reiterated a “buy” rating and set a $30.00 target price on shares of Confluent in a research report on Wednesday, September 18th. UBS Group increased their target price on shares of Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Sanford C. Bernstein lowered their price objective on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Confluent from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CFLT. V Square Quantitative Management LLC bought a new position in shares of Confluent in the second quarter worth about $68,000. Point72 Hong Kong Ltd bought a new position in shares of Confluent in the third quarter worth about $68,000. UniSuper Management Pty Ltd lifted its holdings in shares of Confluent by 125.0% in the first 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 holdings in shares of Confluent by 40.3% in 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. Finally, Lazard Asset Management LLC lifted its holdings in shares of Confluent by 25.5% in the first 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. 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.