GMT Capital Corp Raises Position in Confluent, Inc. $CFLT

Key Points

• GMT Capital Corp increased its holdings in Confluent, Inc. by 10.9%, now owning 425,100 shares, which represents 0.5% of their total portfolio.
• Confluent reported a quarterly revenue of $282.29 million, exceeding estimates, with a small earnings per share of $0.09.
• Analysts have downgraded Confluent's stock price targets, with recommendations ranging from “Strong Buy” to “Sell,” leading to a current consensus rating of “Moderate Buy.”

GMT Capital Corp raised its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 10.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 425,100 shares of the company's stock after purchasing an additional 41,800 shares during the period. Confluent accounts for 0.5% of GMT Capital Corp's portfolio, making the stock its 27th largest position. GMT Capital Corp owned approximately 0.12% of Confluent worth $9,964,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $623,976,000 after purchasing an additional 1,791,588 shares in the last quarter. Nuveen LLC purchased a new position in Confluent in the 1st quarter worth approximately $28,791,000. Principal Financial Group Inc. lifted its position in Confluent by 47.3% in the 1st quarter. Principal Financial Group Inc. now owns 528,171 shares of the company's stock valued at $12,380,000 after acquiring an additional 169,576 shares in the last quarter. Amalgamated Bank boosted its stake in Confluent by 3.4% during the 1st quarter. Amalgamated Bank now owns 16,995 shares of the company's stock valued at $398,000 after purchasing an additional 566 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Confluent by 5.2% in the 4th quarter. Janus Henderson Group PLC now owns 107,900 shares of the company's stock worth $3,017,000 after purchasing an additional 5,300 shares in the last quarter. Institutional investors own 78.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CFLT. Wells Fargo & Company decreased their price target on Confluent from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. UBS Group decreased their price target on Confluent from $32.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Citigroup decreased their price target on Confluent from $30.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Royal Bank Of Canada decreased their price target on Confluent from $28.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Needham & Company LLC decreased their price target on Confluent from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.36.

Insiders Place Their Bets

In other news, CEO Edward Jay Kreps sold 37,707 shares of Confluent stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.04, for a total transaction of $642,527.28. Following the transaction, the chief executive officer owned 377,074 shares in the company, valued at $6,425,340.96. This trade represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lara Caimi sold 2,864 shares of Confluent stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $24.10, for a total transaction of $69,022.40. Following the transaction, the director owned 4,296 shares in the company, valued at $103,533.60. This represents a 40.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 599,117 shares of company stock worth $12,377,994 in the last 90 days. Insiders own 13.82% of the company's stock.

Confluent Stock Performance

NASDAQ:CFLT traded down $0.19 during trading hours on Monday, reaching $19.86. The company had a trading volume of 5,984,950 shares, compared to its average volume of 9,494,722. 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 52 week low of $15.64 and a 52 week high of $37.90. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of -21.13 and a beta of 0.97. The firm's 50 day moving average price is $21.88 and its 200-day moving average price is $23.52.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $278.32 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The firm'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. On average, analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Confluent 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.