Stephanie Buscemi Sells 50,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Posted by Defense World Staff on Jun 3rd, 2023

Confluent, Inc. (NASDAQ:CFLT – Get Rating) CMO Stephanie Buscemi sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $30.02, for a total transaction of $1,501,000.00. Following the completion of the sale, the chief marketing officer now directly owns 117,519 shares of the company’s stock, valued at approximately $3,527,920.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

On Tuesday, May 23rd, Stephanie Buscemi sold 3,248 shares of Confluent stock. The shares were sold at an average price of $28.82, for a total transaction of $93,607.36.

Confluent Trading Up 6.6 %

Shares of NASDAQ CFLT opened at $34.56 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 5.27 and a current ratio of 5.27. Confluent, Inc. has a 52-week low of $16.60 and a 52-week high of $34.99. The firm has a 50 day moving average price of $24.68 and a two-hundred day moving average price of $23.49. The stock has a market cap of $10.23 billion, a P/E ratio of -20.09 and a beta of 0.95.

Confluent (NASDAQ:CFLT – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.36) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.36). Confluent had a negative net margin of 77.61% and a negative return on equity of 56.31%. The firm had revenue of $174.30 million during the quarter, compared to analysts’ expectations of $167.12 million. As a group, equities analysts forecast that Confluent, Inc. will post -1.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CFLT. Needham & Company LLC assumed coverage on shares of Confluent in a report on Tuesday. They issued a “buy” rating and a $35.00 price objective for the company. Moffett Nathanson assumed coverage on shares of Confluent in a report on Monday, February 13th. They set an “outperform” rating and a $36.00 price target for the company. VNET Group reaffirmed a “maintains” rating on shares of Confluent in a report on Thursday, May 4th. JMP Securities cut their price target on shares of Confluent from $33.00 to $31.00 in a report on Thursday, May 4th. Finally, Mizuho assumed coverage on shares of Confluent in a report on Tuesday, March 28th. They set a “buy” rating and a $28.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

Institutional Investors Weigh In On Confluent

A number of institutional investors have recently modified their holdings of CFLT. Bank of New York Mellon Corp boosted its stake in shares of Confluent by 720.4% in the 1st quarter. Bank of New York Mellon Corp now owns 272,441 shares of the company’s stock valued at $11,170,000 after purchasing an additional 239,232 shares during the last quarter. Bank of Montreal Can boosted its stake in Confluent by 3,176.6% during the first quarter. Bank of Montreal Can now owns 149,968 shares of the company’s stock worth $6,215,000 after acquiring an additional 145,391 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in Confluent during the first quarter worth $5,322,000. Dimensional Fund Advisors LP bought a new position in Confluent during the first quarter worth $507,000. Finally, Blair William & Co. IL boosted its stake in Confluent by 13.1% during the first quarter. Blair William & Co. IL now owns 19,335 shares of the company’s stock worth $793,000 after acquiring an additional 2,235 shares in the last quarter. 40.66% of the stock is owned by institutional investors.

About Confluent

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Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.