Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi Sells 3,866 Shares

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 3,866 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $83,814.88. Following the completion of the transaction, the chief marketing officer now owns 161,673 shares in the company, valued at $3,505,070.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Confluent Stock Performance

Shares of NASDAQ CFLT opened at $21.27 on Friday. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $35.22. The firm has a market cap of $6.76 billion, a P/E ratio of -17.02 and a beta of 0.91. The stock has a fifty day moving average price of $24.82 and a two-hundred day moving average price of $28.28. The company has a debt-to-equity ratio of 1.29, a quick ratio of 5.07 and a current ratio of 5.07.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. Confluent had a negative net margin of 42.70% and a negative return on equity of 38.46%. Research analysts forecast that Confluent, Inc. will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Confluent

Several large investors have recently made changes to their positions in CFLT. Hollencrest Capital Management bought a new stake in shares of Confluent during the 1st quarter worth $26,000. Quest Partners LLC acquired a new position in shares of Confluent in the 4th quarter valued at $31,000. GAMMA Investing LLC purchased a new position in Confluent in the 4th quarter worth about $35,000. V Square Quantitative Management LLC acquired a new stake in Confluent during the 2nd quarter worth about $68,000. Finally, UniSuper Management Pty Ltd raised its holdings in Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after buying an additional 1,500 shares during the period. Institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. DA Davidson cut their price target on Confluent from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Piper Sandler reduced their price objective on Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Evercore ISI initiated coverage on Confluent in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Royal Bank of Canada cut their target price on Confluent from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.96.

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.