Confluent, Inc. $CFLT Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Confluent, Inc. by 2.1% during the first quarter, owning approximately 1.41 million shares valued at $33.1 million.
• Insiders sold 627,117 shares of Confluent stock worth over $13 million in the last 90 days, with notable sales by CRO Ryan Norris and Director Lara Caimi.
• Confluent's recent earnings report showed $282.29 million in revenue, a 20.1% increase year-over-year, and earnings per share of $0.09, exceeding analyst estimates.

Northern Trust Corp grew its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,412,390 shares of the company's stock after purchasing an additional 29,362 shares during the quarter. Northern Trust Corp owned approximately 0.41% of Confluent worth $33,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CFLT. Vanguard Group Inc. raised its holdings in shares of Confluent by 7.2% in the 1st 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. Phoenix Financial Ltd. raised its stake in Confluent by 901.4% during the 1st quarter. Phoenix Financial Ltd. now owns 1,547,112 shares of the company's stock worth $36,269,000 after acquiring an additional 1,392,615 shares in the last quarter. Nuveen LLC acquired a new stake in Confluent during the 1st quarter worth $28,791,000. Vishria Bird Financial Group LLC raised its stake in Confluent by 1,301.3% during the 1st quarter. Vishria Bird Financial Group LLC now owns 1,234,929 shares of the company's stock worth $28,947,000 after acquiring an additional 1,146,803 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Confluent during the 4th quarter worth $22,682,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Stock Performance

Shares of NASDAQ:CFLT traded down $0.19 during midday trading on Monday, hitting $19.86. The stock had a trading volume of 5,984,950 shares, compared to its average volume of 9,494,722. The company has a market capitalization of $6.85 billion, a PE ratio of -21.13 and a beta of 0.97. The stock has a 50 day moving average price of $21.88 and a two-hundred day moving average price of $23.52. 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 1 year low of $15.64 and a 1 year high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. The firm had revenue of $282.29 million for the quarter, compared to the consensus estimate of $278.32 million. Confluent had a negative net margin of 29.27% and a negative return on equity of 27.34%. The firm's revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous 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. As a group, equities analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Royal Bank Of Canada cut their price target on shares of Confluent from $28.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Raymond James Financial cut their price target on shares of Confluent from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Capital One Financial set a $21.00 price objective on shares of Confluent in a research note on Thursday, July 31st. DA Davidson dropped their price objective on shares of Confluent from $32.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Finally, Stephens started coverage on shares of Confluent in a research note on Friday, July 18th. They issued an "overweight" rating and a $31.00 price objective on the stock. Two 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 given a Sell rating to the company. Based on data from MarketBeat.com, Confluent has a consensus rating of "Moderate Buy" and a consensus price target of $27.36.

Insider Activity at Confluent

In other Confluent news, CRO Ban Ryan Norris Mac sold 15,200 shares of Confluent stock in a transaction dated 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 in the company, valued at approximately $6,758,838.45. The trade was a 3.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rohan Sivaram sold 26,097 shares of Confluent stock in a transaction dated 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 owned 636,596 shares of the company's stock, valued at approximately $10,828,497.96. The trade was a 3.94% 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 valued at $12,377,994 in the last quarter. 13.82% of the stock is owned by corporate insiders.

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.