Atreides Management LP Has $38.79 Million Stake in Confluent, Inc. $CFLT

Key Points

• Atreides Management LP increased its position in Confluent, Inc. by 6.8%, owning approximately 1,654,969 shares after acquiring an additional 104,718 shares in the first quarter.
• Analyst ratings for Confluent have been adjusted, with Barclays and others lowering their target prices, leading to an average rating of "Moderate Buy" and an average target price of $27.36.
• Insider trading showed significant activity, with Confluent's CAO and CFO collectively selling over 28,000 shares recently, reflecting a decrease in their ownership.

Atreides Management LP increased its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 6.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,654,969 shares of the company's stock after purchasing an additional 104,718 shares during the period. Confluent comprises about 1.2% of Atreides Management LP's investment portfolio, making the stock its 22nd largest position. Atreides Management LP owned about 0.49% of Confluent worth $38,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. 1832 Asset Management L.P. acquired a new stake in Confluent in the 1st quarter valued at $48,547,000. Vanguard Group Inc. raised its position in shares of Confluent by 7.2% during the first quarter. Vanguard Group Inc. now owns 26,620,150 shares of the company's stock worth $623,976,000 after acquiring an additional 1,791,588 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Confluent during the first quarter worth $39,944,000. Phoenix Financial Ltd. increased its holdings in Confluent by 901.4% in the first quarter. Phoenix Financial Ltd. now owns 1,547,112 shares of the company's stock valued at $36,269,000 after purchasing an additional 1,392,615 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Confluent in the first quarter valued at about $28,791,000. 78.09% of the stock is currently owned by institutional investors.

Insider Activity at Confluent

In related news, CAO Kong Phan sold 3,575 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $23.49, for a total transaction of $83,976.75. Following the completion of the transaction, the chief accounting officer directly owned 239,742 shares of the company's stock, valued at approximately $5,631,539.58. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric Vishria sold 30,953 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $20.00, for a total value of $619,060.00. Following the transaction, the director directly owned 1,123,447 shares of the company's stock, valued at $22,468,940. This trade represents a 2.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 352,785 shares of company stock valued at $6,185,488 over the last ninety days. Company insiders own 9.20% of the company's stock.

Confluent Stock Up 4.3%

Shares of CFLT stock traded up $0.79 on Friday, hitting $19.34. 7,858,970 shares of the stock were exchanged, compared to its average volume of 8,821,518. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $6.67 billion, a P/E ratio of -20.57 and a beta of 0.97. The business has a 50-day moving average of $21.46 and a 200 day moving average of $23.24. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $37.90.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CFLT shares. Barclays dropped their price objective on Confluent from $31.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Needham & Company LLC dropped their price objective on Confluent from $26.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Raymond James Financial dropped their price objective on Confluent from $30.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Piper Sandler dropped their price objective on Confluent from $32.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Finally, Stifel Nicolaus reiterated a "hold" rating and issued a $21.00 price objective (down previously from $30.00) on shares of Confluent in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.36.

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.