248,445 Shares in Confluent, Inc. $CFLT Acquired by Melqart Asset Management UK Ltd

Key Points

• Melqart Asset Management UK Ltd purchased a new stake of 248,445 shares in Confluent (NASDAQ:CFLT) in Q3, valued at about $4.92 million and representing roughly 0.07% ownership.
• Institutions now own about 78.09% of the stock, with large moves including Vanguard boosting to 31.35 million shares, Invesco increasing holdings ~895% to 2.41 million shares, and Norges Bank establishing a new ~$89.7 million position.
• Insiders have been net sellers—767,245 shares sold in the last 90 days (including CFO and director sales)—while Confluent recently beat EPS estimates ($0.12 vs. $0.10) and reported revenue of $314.82 million (+20.5% YoY), yet retains a consensus "Hold" rating and average target of $28.71.

Melqart Asset Management UK Ltd purchased a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 248,445 shares of the company's stock, valued at approximately $4,919,000. Melqart Asset Management UK Ltd owned approximately 0.07% of Confluent as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CFLT. Norges Bank acquired a new stake in Confluent during the second quarter worth approximately $89,736,000. Vanguard Group Inc. boosted its holdings in shares of Confluent by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company's stock valued at $620,675,000 after buying an additional 2,970,708 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Confluent by 895.2% in the 3rd quarter. Invesco Ltd. now owns 2,408,170 shares of the company's stock valued at $47,682,000 after buying an additional 2,166,196 shares in the last quarter. Atreides Management LP grew its position in shares of Confluent by 82.0% in the 2nd quarter. Atreides Management LP now owns 3,012,215 shares of the company's stock valued at $75,095,000 after buying an additional 1,357,246 shares during the last quarter. Finally, Tredje AP fonden purchased a new position in shares of Confluent in the 3rd quarter valued at $20,912,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Trading Down 0.1%

Shares of Confluent stock opened at $30.67 on Friday. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $30.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. The company has a market capitalization of $10.97 billion, a P/E ratio of -35.66 and a beta of 0.95. The company's fifty day moving average is $30.56 and its two-hundred day moving average is $25.84.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The company had revenue of $314.82 million for the quarter, compared to analyst estimates of $308.03 million. During the same period in the previous year, the business posted $0.09 earnings per share. Confluent's quarterly revenue was up 20.5% on a year-over-year basis. Analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CFLT. Guggenheim cut shares of Confluent from a "buy" rating to a "hold" rating in a research report on Tuesday, December 9th. Evercore set a $31.00 price objective on Confluent in a report on Monday, December 8th. William Blair cut Confluent from an "outperform" rating to a "market perform" rating in a research report on Monday, December 8th. Canaccord Genuity Group downgraded Confluent from a "buy" rating to a "hold" rating and boosted their target price for the company from $27.00 to $31.00 in a report on Monday, December 8th. Finally, Citizens Jmp cut Confluent from an "outperform" rating to a "market perform" rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.71.

Insiders Place Their Bets

In other news, CFO Rohan Sivaram sold 29,996 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $30.67, for a total transaction of $919,977.32. Following the completion of the transaction, the chief financial officer directly owned 531,971 shares of the company's stock, valued at approximately $16,315,550.57. This represents a 5.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michelangelo Volpi sold 25,000 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $30.59, for a total value of $764,750.00. Following the completion of the transaction, the director owned 155,512 shares of the company's stock, valued at $4,757,112.08. The trade was a 13.85% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 767,245 shares of company stock valued at $23,386,655. 9.20% of the stock is owned by company insiders.

Confluent Profile

Confluent, Inc NASDAQ: CFLT is a leading provider of an event streaming platform built on Apache Kafka. The company's flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.

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