Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CMO Sells 3,248 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT – Get Rating) CMO Stephanie Buscemi sold 3,248 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $28.82, for a total transaction of $93,607.36. Following the completion of the sale, the chief marketing officer now directly owns 117,519 shares in the company, valued at approximately $3,386,897.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Confluent Stock Down 3.0 %

Shares of CFLT stock opened at $27.99 on Friday. Confluent, Inc. has a 1-year low of $16.60 and a 1-year high of $34.39. The firm has a fifty day moving average of $23.56 and a two-hundred day moving average of $23.09. The company has a debt-to-equity ratio of 1.46, a current ratio of 5.27 and a quick ratio of 5.27.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley raised shares of Confluent from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $29.00 to $30.00 in a research note on Wednesday, April 12th. Cowen dropped their price target on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, January 31st. Barclays dropped their price target on shares of Confluent from $29.00 to $26.00 in a research report on Thursday, May 4th. Mizuho initiated coverage on shares of Confluent in a research report on Tuesday, March 28th. They set a “buy” rating and a $28.00 price target for the company. Finally, Guggenheim started coverage on shares of Confluent in a research report on Thursday, January 26th. They set a “buy” rating and a $29.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Empower Advisory Group LLC acquired a new position in shares of Confluent in the 1st quarter valued at about $437,000. Legato Capital Management LLC bought a new stake in Confluent in the 1st quarter valued at about $316,000. Ameriprise Financial Inc. lifted its position in Confluent by 4.5% in the 1st quarter. Ameriprise Financial Inc. now owns 140,942 shares of the company’s stock valued at $3,392,000 after purchasing an additional 6,069 shares during the last quarter. Advisory Services Network LLC lifted its position in Confluent by 51.1% in the 1st quarter. Advisory Services Network LLC now owns 38,620 shares of the company’s stock valued at $930,000 after purchasing an additional 13,061 shares during the last quarter. Finally, Altimeter Capital Management LP lifted its position in Confluent by 11.5% in the 1st quarter. Altimeter Capital Management LP now owns 14,491,817 shares of the company’s stock valued at $348,818,000 after purchasing an additional 1,496,443 shares during the last quarter. 40.66% of the stock is owned by institutional investors and hedge funds.

About Confluent

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Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.