Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CMO Sells $148,800.33 in Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 5,271 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $148,800.33. Following the transaction, the chief marketing officer now owns 144,373 shares in the company, valued at $4,075,649.79. This represents a 3.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 Stock Up 3.0 %

CFLT opened at $31.52 on Monday. The company’s 50-day moving average price is $23.35 and its two-hundred day moving average price is $24.57. 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, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of -28.40 and a beta of 0.82.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. As a group, equities analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CFLT. Wolfe Research raised Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. Scotiabank boosted their price target on shares of Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Truist Financial restated a “buy” rating and set a $30.00 price objective (down previously from $36.00) on shares of Confluent in a report on Thursday, August 1st. Wells Fargo & Company reduced their price objective on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. EP Wealth Advisors LLC lifted its holdings in Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after purchasing an additional 503 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after buying an additional 857 shares during the period. Advisors Asset Management Inc. grew its stake in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after buying an additional 859 shares in the last quarter. Fulton Bank N.A. raised its holdings in Confluent by 15.0% during the 2nd quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock valued at $241,000 after acquiring an additional 1,064 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Confluent by 9.6% in the second quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock worth $374,000 after acquiring an additional 1,113 shares during the period. Institutional investors 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.