Comerica Bank Has $2.97 Million Stock Holdings in Confluent, Inc. $CFLT

Key Points

• Comerica Bank significantly increased its stake in Confluent, Inc., boosting its holdings by 97.1% to a total market value of $2.97 million.
• Insider trading activity shows CFO Rohan Sivaram and Director Eric Vishria sold shares recently, contributing to a total of 599,117 shares sold by insiders over the last three months.
• Analysts have mixed ratings on Confluent's stock, with a consensus rating of "Moderate Buy" and price targets ranging from $20.00 to $29.00, following recent adjustments.

Comerica Bank grew its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 97.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,828 shares of the company's stock after acquiring an additional 62,489 shares during the quarter. Comerica Bank's holdings in Confluent were worth $2,973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Jump Financial LLC acquired a new stake in shares of Confluent during the 1st quarter worth approximately $994,000. SVB Wealth LLC bought a new position in Confluent in the 1st quarter valued at $54,000. 1832 Asset Management L.P. bought a new position in Confluent in the 1st quarter valued at $48,547,000. Price T Rowe Associates Inc. MD raised its position in Confluent by 13.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,510,743 shares of the company's stock valued at $129,173,000 after purchasing an additional 654,827 shares during the last quarter. Finally, MIG Capital LLC raised its position in Confluent by 11.1% in the 1st quarter. MIG Capital LLC now owns 1,073,354 shares of the company's stock valued at $25,159,000 after purchasing an additional 107,450 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Confluent Trading Down 2.1%

NASDAQ:CFLT traded down $0.40 on Thursday, reaching $18.84. The company's stock had a trading volume of 4,125,532 shares, compared to its average volume of 6,656,851. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $37.90. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.98 and a current ratio of 3.98. The firm has a market cap of $6.49 billion, a PE ratio of -19.98 and a beta of 0.97. The business's 50-day moving average price is $21.69 and its two-hundred day moving average price is $23.46.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Confluent had a negative return on equity of 27.34% and a negative net margin of 29.27%.The firm had revenue of $282.29 million during the quarter, compared to analysts' expectations of $278.32 million. During the same period in the previous year, the firm earned $0.06 earnings per share. The company's revenue 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 anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CFLT has been the subject of a number of recent research reports. Barclays dropped their target price on Confluent from $31.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. UBS Group dropped their target price on Confluent from $32.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Raymond James Financial dropped their target price on Confluent from $30.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. TD Cowen restated a "hold" rating and set a $24.00 target price on shares of Confluent in a research report on Thursday, July 31st. Finally, Wells Fargo & Company dropped their target price on Confluent from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.36.

Insider Activity at Confluent

In other news, Director Eric Vishria sold 30,953 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $20.00, for a total transaction of $619,060.00. Following the completion of the transaction, the director directly owned 1,123,447 shares of the company's stock, valued at $22,468,940. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Kong Phan sold 3,575 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $23.49, for a total value of $83,976.75. Following the transaction, the chief accounting officer directly owned 239,742 shares of the company's stock, valued at $5,631,539.58. This represents a 1.47% 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 13.82% of the company's stock.

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.