Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi Sells 22,906 Shares

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 22,906 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were 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 in the company, valued at approximately $4,475,563. The trade was a 13.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction 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 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 Trading Down 2.9 %

Confluent stock traded down $0.94 during midday trading on Tuesday, reaching $31.29. The stock had a trading volume of 5,737,635 shares, compared to its average volume of 4,398,792. The stock has a market capitalization of $10.26 billion, a PE ratio of -28.19 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock’s 50-day simple moving average is $23.58 and its 200 day simple moving average is $24.58. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Analysts expect that Confluent, Inc. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CFLT. Needham & Company LLC reissued a “buy” rating and set a $31.00 price target on shares of Confluent in a research note on Friday, November 15th. Bank of America lowered their target price on Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company cut their price target on Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Baird R W raised shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Finally, Mizuho raised their target price on shares of Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One 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, the company currently has an average rating of “Moderate Buy” and an average target price of $30.88.

Hedge Funds Weigh In On Confluent

A number of hedge funds have recently made changes to their positions in CFLT. Champlain Investment Partners LLC grew its stake 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 valued at $218,083,000 after buying an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. grew its position in 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 in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Confluent during the second quarter valued at approximately $193,403,000. Geode Capital Management LLC lifted its position in shares of Confluent by 2.5% during the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock worth $88,180,000 after purchasing an additional 107,510 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Confluent by 60.0% in 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 purchasing an additional 1,316,804 shares during the period. Hedge funds and other 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.