Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CMO Sells 22,906 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 22,906 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.00, for a total transaction of $710,086.00. Following the completion of the transaction, the chief marketing officer now owns 144,373 shares in the company, valued at approximately $4,475,563. This trade represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Stephanie Buscemi also recently made the following trade(s):

• On Monday, November 25th, Stephanie Buscemi sold 26,047 shares of Confluent stock. The stock was sold at an average price of $32.89, for a total transaction of $856,685.83.
• 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 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 value of $4,306,587.52.

Confluent Stock Performance

Shares of NASDAQ CFLT opened at $31.29 on Wednesday. The company has a market cap of $10.26 billion, a PE ratio of -28.19 and a beta of 0.82. 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 firm’s 50-day moving average price is $23.58 and its 200-day moving average price is $24.58. Confluent, Inc. has a 52-week low of $17.79 and a 52-week 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, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $243.98 million. As a group, analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CFLT shares. Mizuho increased their price objective on Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Truist Financial reissued a “buy” rating and set a $30.00 price target (down from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Confluent in a research note on Friday, November 15th. Bank of America decreased their target price on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. Finally, Wolfe Research raised Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. UniSuper Management Pty Ltd increased its stake in shares of Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after purchasing an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. increased its position in Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after buying an additional 859 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after buying an additional 1,167 shares during the period. iA Global Asset Management Inc. purchased a new position in shares of Confluent during the 1st quarter valued at about $4,376,000. Finally, Cetera Advisors LLC grew its stake in shares of Confluent by 209.6% during the 1st quarter. Cetera Advisors LLC now owns 31,971 shares of the company’s stock valued at $976,000 after acquiring an additional 21,646 shares during the period. Hedge funds and other 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.