Stephanie Buscemi Sells 5,271 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 5,271 shares of the firm’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 directly owns 144,373 shares in the company, valued at approximately $4,075,649.79. The trade was a 3.52 % decrease in their ownership of the stock. 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 Trading Up 3.0 %

NASDAQ:CFLT traded up $0.91 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 firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of -28.40 and a beta of 0.82. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average of $23.12 and a 200-day moving average of $24.62.

Confluent (NASDAQ:CFLT) last released 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. The company had revenue of $250.20 million for the quarter, compared to analyst estimates 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, analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CFLT. Scotiabank increased 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. TD Cowen raised their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced their target price on Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Bank of America lowered their price target on Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research note on Thursday, August 1st. Finally, Mizuho increased their target price 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. One 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Diversified Trust Co raised its position in Confluent by 110.3% in the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock valued at $1,233,000 after purchasing an additional 31,729 shares in the last quarter. Sycomore Asset Management lifted its stake in Confluent by 308.3% in the second quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock worth $9,176,000 after acquiring an additional 251,507 shares during the last quarter. Pathway Capital Management LP acquired a new position in Confluent during the 3rd quarter worth approximately $918,000. Sei Investments Co. increased its position in shares of Confluent by 29.1% in the 2nd quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock valued at $9,022,000 after purchasing an additional 68,880 shares during the last quarter. Finally, Creative Planning lifted its position in shares of Confluent by 109.9% during the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after purchasing an additional 49,699 shares during the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

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.