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

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 26,047 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.89, for a total transaction of $856,685.83. Following the completion of the sale, the chief marketing officer now owns 144,373 shares in the company, valued at approximately $4,748,427.97. This trade represents a 15.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 value of $710,086.00.
• On Wednesday, November 20th, Stephanie Buscemi sold 5,271 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total value 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 value of $4,306,587.52.

Confluent Trading Down 2.3 %

Shares of CFLT stock opened at $30.57 on Thursday. The stock has a 50-day simple moving average of $23.79 and a 200 day simple moving average of $24.59. The stock has a market capitalization of $10.03 billion, a P/E ratio of -27.54 and a beta of 0.82. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two 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.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data 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 company had revenue of $250.20 million during 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%. On average, sell-side analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CFLT shares. Sanford C. Bernstein lowered their target price on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Piper Sandler dropped their price objective on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Royal Bank of Canada lifted their target price on Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Mizuho increased their price target on Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Citigroup raised their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. One 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. According to data from MarketBeat.com, Confluent has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CFLT. Tidal Investments LLC boosted its stake in shares of Confluent by 521.0% during the 3rd quarter. Tidal Investments LLC now owns 50,545 shares of the company’s stock worth $1,030,000 after acquiring an additional 42,406 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Confluent by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company’s stock valued at $384,000 after purchasing an additional 3,298 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 12,150 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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, Y Intercept Hong Kong Ltd purchased a new position in Confluent in the 3rd quarter worth about $634,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.