Confluent, Inc. (NASDAQ:CFLT) CMO Sells $148,800.33 in Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 5,271 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $148,800.33. Following the completion of the sale, the chief marketing officer now owns 144,373 shares of the company’s stock, valued at $4,075,649.79. The trade was a 3.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 Stock Performance

CFLT traded up $0.91 during trading on Friday, reaching $31.52. 5,460,246 shares of the company’s stock were exchanged, compared to its average volume of 4,379,470. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. 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 $23.12 and its 200-day simple moving average is $24.62. The stock has a market capitalization of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82.

Confluent (NASDAQ:CFLT) last issued its earnings results 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 firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. As a group, research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Confluent

Hedge funds have recently modified their holdings of the stock. Westside Investment Management Inc. raised its position in Confluent by 11,796.1% during the third quarter. Westside Investment Management Inc. now owns 12,253 shares of the company’s stock valued at $250,000 after acquiring an additional 12,150 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Confluent by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after purchasing an additional 107,510 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Confluent in the 3rd quarter valued at $634,000. Main Management ETF Advisors LLC purchased a new stake in Confluent during the third quarter worth $696,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Confluent during the third quarter valued at $605,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CFLT shares. Sanford C. Bernstein dropped their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Piper Sandler cut their target price on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Citigroup upped their price target on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Scotiabank lifted their price objective on shares of Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Finally, Truist Financial restated a “buy” rating and set a $30.00 target price (down previously from $36.00) on shares of Confluent in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.