Confluent, Inc. $CFLT is Altimeter Capital Management LP's 7th Largest Position

Key Points

• Altimeter Capital Management LP increased its stake in Confluent, Inc. by 11% during Q1, now holding over 13 million shares worth approximately $305 million.
• Confluent's stock has shown volatility, currently trading around $19.18, down 3.4% recently, with a market cap of $6.61 billion and a 1-year price range between $15.64 and $37.90.
• An array of recent analyst ratings suggests a "Moderate Buy" consensus on Confluent stock, with a price target average of $27.36 following multiple adjustments downward from several firms.

Altimeter Capital Management LP raised its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,042,080 shares of the company's stock after purchasing an additional 1,295,710 shares during the quarter. Confluent accounts for approximately 6.1% of Altimeter Capital Management LP's investment portfolio, making the stock its 7th biggest holding. Altimeter Capital Management LP owned 3.83% of Confluent worth $305,706,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Confluent by 7.2% in the first quarter. Vanguard Group Inc. now owns 26,620,150 shares of the company's stock valued at $623,976,000 after purchasing an additional 1,791,588 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Confluent during the 1st quarter worth about $28,791,000. Principal Financial Group Inc. boosted its stake in shares of Confluent by 47.3% during the 1st quarter. Principal Financial Group Inc. now owns 528,171 shares of the company's stock worth $12,380,000 after acquiring an additional 169,576 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Confluent by 3.4% during the 1st quarter. Amalgamated Bank now owns 16,995 shares of the company's stock worth $398,000 after acquiring an additional 566 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Confluent by 5.2% during the 4th quarter. Janus Henderson Group PLC now owns 107,900 shares of the company's stock worth $3,017,000 after acquiring an additional 5,300 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Confluent Price Performance

CFLT stock traded up $0.79 during mid-day trading on Friday, reaching $19.34. The company's stock had a trading volume of 7,858,970 shares, compared to its average volume of 8,821,518. The stock has a market cap of $6.67 billion, a PE ratio of -20.57 and a beta of 0.97. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.03. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $37.90. The company's 50 day moving average is $21.46 and its two-hundred day moving average is $23.17.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Confluent had a negative net margin of 29.27% and a negative return on equity of 27.34%. The business had revenue of $282.29 million during the quarter, compared to analysts' expectations of $278.32 million. During the same quarter in the prior year, the company posted $0.06 EPS. The business's revenue for the quarter was up 20.1% on a year-over-year basis. Confluent has set its Q3 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.360-0.360 EPS. Equities research analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Ban Ryan Norris Mac sold 15,200 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $17.01, for a total transaction of $258,552.00. Following the completion of the transaction, the executive owned 397,345 shares of the company's stock, valued at approximately $6,758,838.45. This trade represents a 3.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rohan Sivaram sold 26,097 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.01, for a total transaction of $443,909.97. Following the transaction, the chief financial officer directly owned 636,596 shares of the company's stock, valued at $10,828,497.96. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 352,785 shares of company stock worth $6,185,488. 9.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CFLT has been the topic of several recent analyst reports. Oppenheimer lowered their target price on shares of Confluent from $32.00 to $26.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Zacks Research upgraded shares of Confluent from a "strong sell" rating to a "hold" rating in a research report on Monday, September 1st. Wells Fargo & Company reduced their price target on shares of Confluent from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Citigroup reduced their price target on shares of Confluent from $30.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Finally, Stephens began coverage on shares of Confluent in a research report on Friday, July 18th. They set an "overweight" rating and a $31.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.36.

Confluent Company Profile

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.