Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CMO Sells 26,047 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 26,047 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $32.89, for a total value of $856,685.83. Following the completion of the sale, the chief marketing officer now owns 144,373 shares of the company’s stock, valued at approximately $4,748,427.97. This trade represents a 15.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 shares were 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 Stock Performance

Shares of CFLT opened at $31.29 on Wednesday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $10.26 billion, a P/E ratio of -28.19 and a beta of 0.82. The firm’s fifty day simple moving average is $23.58 and its two-hundred day simple moving average is $24.58. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to analysts’ expectations 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 predict that Confluent, Inc. will post -0.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Sanford C. Bernstein lowered their price objective on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Citigroup boosted their price objective on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Confluent in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Confluent from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Institutional Trading of Confluent

Institutional investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd boosted its position in shares of 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 purchasing an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares in the last quarter. iA Global Asset Management Inc. bought a new position in shares of Confluent during the 1st quarter worth about $4,376,000. Finally, Cetera Advisors LLC boosted its position in shares of Confluent by 209.6% during the 1st quarter. Cetera Advisors LLC now owns 31,971 shares of the company’s stock worth $976,000 after purchasing an additional 21,646 shares in the last quarter. 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.