Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi Sells 22,906 Shares of 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 approximately $4,475,563. The trade was a 13.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, November 25th, Stephanie Buscemi sold 26,047 shares of Confluent stock. The shares were 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 stock was 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 stock was sold at an average price of $26.24, for a total transaction of $4,306,587.52.

Confluent Price Performance

Confluent stock opened at $31.29 on Wednesday. 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 business’s 50 day simple moving average is $23.58 and its 200 day simple moving average is $24.58. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The company has a market cap of $10.26 billion, a price-to-earnings ratio of -28.19 and a beta of 0.82.

Confluent (NASDAQ:CFLT) last posted its earnings results 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. The firm had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Sell-side analysts forecast that Confluent, Inc. will post -0.9 EPS for the current year.

Hedge Funds Weigh In On Confluent

A number of large investors have recently made changes to their positions in the stock. William Blair Investment Management LLC purchased a new stake in Confluent during the 2nd quarter worth about $193,403,000. Champlain Investment Partners LLC lifted its holdings in shares of Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after buying an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Confluent by 28.4% in the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after acquiring an additional 1,684,100 shares during the period. Bank of New York Mellon Corp grew its stake in Confluent by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock valued at $103,665,000 after acquiring an additional 1,316,804 shares in the last quarter. Finally, Fiera Capital Corp bought a new stake in Confluent during the 3rd quarter worth approximately $21,127,000. 78.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

CFLT has been the subject of a number of recent research reports. Truist Financial restated a “buy” rating and issued a $30.00 price objective (down from $36.00) on shares of Confluent in a report on Thursday, August 1st. Royal Bank of Canada upped their target price on Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Baird R W raised shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Finally, Barclays lifted their target price on shares of Confluent from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.88.

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.