Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CMO Stephanie Buscemi sold 5,271 shares of the business'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 owns 144,373 shares of the company's stock, valued at $4,075,649.79. The trade was a 3.52 % decrease in their position. 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):
CFLT traded up $0.91 during trading 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 company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The company's fifty day simple moving average is $23.12 and its 200-day simple moving average is $24.62. The stock has a market capitalization of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82.
Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The firm had revenue of $250.20 million during the quarter, compared to analysts' expectations of $243.98 million. As a group, research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Westside Investment Management Inc. raised its position in 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 acquiring an additional 12,150 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Confluent by 2.5% during 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 in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Confluent in the 3rd quarter valued at $634,000. Main Management ETF Advisors LLC purchased a new stake in Confluent during the third quarter worth $696,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Confluent during the third quarter valued at $605,000. Hedge funds and other institutional investors own 78.09% of the company's stock.
A number of equities analysts have recently issued reports on CFLT shares. Sanford C. Bernstein dropped their price target on Confluent from $38.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Piper Sandler cut their target price on shares of Confluent from $37.00 to $32.00 and set an "overweight" rating on the stock in a research report on Thursday, August 1st. Citigroup upped their price target on shares of Confluent from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Scotiabank lifted 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. Finally, Truist Financial restated a "buy" rating and set a $30.00 target price (down previously from $36.00) on shares of Confluent in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.88.
Check Out Our Latest Stock Report on 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.
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