Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CMO Sells 26,047 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 26,047 shares of the business’s stock in a transaction 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 sale, the chief marketing officer now directly owns 144,373 shares in the company, valued at $4,748,427.97. The trade was a 15.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were 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 shares were sold at an average price of $26.24, for a total transaction of $4,306,587.52.

Confluent Stock Performance

Shares of NASDAQ:CFLT opened at $30.57 on Friday. The company has a market cap of $10.03 billion, a price-to-earnings ratio of -27.54 and a beta of 0.82. The company has a 50-day moving average price of $24.00 and a 200-day moving average price of $24.63. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07.

Confluent (NASDAQ:CFLT) last released its quarterly 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 company had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. As a group, equities analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current year.

Hedge Funds Weigh In On Confluent

A number of institutional investors have recently bought and sold shares of CFLT. William Blair Investment Management LLC bought a new position in Confluent in the second quarter worth about $193,403,000. Champlain Investment Partners LLC raised 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 worth $218,083,000 after buying an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. raised its stake 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 worth $224,933,000 after buying an additional 1,684,100 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 purchasing an additional 1,316,804 shares in the last quarter. Finally, Fiera Capital Corp bought a new position in shares of Confluent during the third quarter valued at approximately $21,127,000. 78.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CFLT shares. Royal Bank of Canada boosted their price target on shares of Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Mizuho boosted their price target on shares of Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Robert W. Baird boosted their price target on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays boosted their price target on shares of Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.