Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi Sells 26,047 Shares

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 26,047 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $32.89, for a total transaction of $856,685.83. Following the transaction, the chief marketing officer now owns 144,373 shares of the company’s stock, valued at approximately $4,748,427.97. This represents a 15.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, November 22nd, Stephanie Buscemi sold 22,906 shares of Confluent stock. The stock was sold at an average price of $31.00, for a total transaction of $710,086.00.
• On Wednesday, November 20th, Stephanie Buscemi sold 5,271 shares of Confluent stock. The shares were 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 value of $4,306,587.52.

Confluent Trading Down 2.9 %

Shares of NASDAQ:CFLT traded down $0.94 during mid-day trading on Tuesday, hitting $31.29. The company had a trading volume of 5,737,635 shares, compared to its average volume of 4,398,792. The company has a market capitalization of $10.26 billion, a PE ratio of -28.19 and a beta of 0.82. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The firm has a fifty day moving average price of $23.58 and a 200 day moving average price of $24.58. 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 (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Confluent, Inc. will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CFLT. Champlain Investment Partners LLC grew its stake in 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 acquiring an additional 4,486,841 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Confluent by 28.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after purchasing an additional 1,684,100 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Confluent in the 2nd quarter worth $193,403,000. Geode Capital Management LLC grew its position in Confluent by 2.5% in 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 during the period. Finally, Bank of New York Mellon Corp increased its stake in Confluent by 60.0% during the 2nd 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 in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CFLT shares. Canaccord Genuity Group cut their price objective on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Barclays lifted their price target on shares of Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. TD Cowen increased their price objective on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, UBS Group upped their target price on shares of Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued 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, Confluent currently 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.