Infinitum Asset Management LLC Buys 175,000 Shares of Confluent, Inc. $CFLT

Key Points

• Infinitum Asset Management LLC increased its stake in Confluent, Inc. by 46.7% in Q1, now owning 550,000 shares worth approximately $12.9 million.
• Multiple institutional investors, including Vanguard Group and Alyeska Investment Group, have also increased their holdings, with institutional ownership of Confluent now at 78.09%.
• Confluent's share price has experienced a decrease in target price from various analysts, with Citigroup reducing its target from $30 to $20, indicating a mixed outlook on the stock.

Infinitum Asset Management LLC grew its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 46.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 550,000 shares of the company's stock after purchasing an additional 175,000 shares during the quarter. Confluent makes up 4.2% of Infinitum Asset Management LLC's portfolio, making the stock its 7th biggest position. Infinitum Asset Management LLC owned 0.16% of Confluent worth $12,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CFLT. 1832 Asset Management L.P. acquired a new stake in Confluent in the first quarter worth about $48,547,000. Vanguard Group Inc. boosted its holdings in 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 buying an additional 1,791,588 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Confluent by 220.2% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,597,346 shares of the company's stock worth $60,882,000 after acquiring an additional 1,786,116 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Confluent in the 1st quarter worth about $39,944,000. Finally, Phoenix Financial Ltd. grew its stake in Confluent by 901.4% in the 1st quarter. Phoenix Financial Ltd. now owns 1,547,112 shares of the company's stock valued at $36,269,000 after acquiring an additional 1,392,615 shares during the period. Institutional investors own 78.09% of the company's stock.

Confluent Stock Up 0.3%

Shares of CFLT traded up $0.05 during midday trading on Wednesday, reaching $20.01. 5,026,226 shares of the stock were exchanged, compared to its average volume of 6,705,966. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.03. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $37.90. The firm has a 50 day simple moving average of $21.27 and a 200-day simple moving average of $23.01. The company has a market cap of $6.90 billion, a price-to-earnings ratio of -21.29 and a beta of 0.97.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $282.29 million during the quarter, compared to the consensus estimate of $278.32 million. During the same quarter in the prior year, the company 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. Research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CFLT shares. Stifel Nicolaus reiterated a "hold" rating and issued a $21.00 price objective (down from $30.00) on shares of Confluent in a report on Thursday, July 31st. Barclays dropped their price objective on Confluent from $31.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. 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 report on Thursday, July 31st. DA Davidson lowered their price target 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 assumed coverage on shares of Confluent in a research report on Friday, July 18th. They set an "overweight" rating and a $31.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Confluent presently has an average rating of "Moderate Buy" and an average target price of $27.36.

Insider Buying and Selling at Confluent

In related news, Director Eric Vishria sold 30,953 shares of Confluent stock in a transaction on 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 sale, the director directly owned 1,123,447 shares of the company's stock, valued at $22,468,940. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Rohan Sivaram sold 26,097 shares of the firm's 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 sale, the chief financial officer owned 636,596 shares in the company, valued at $10,828,497.96. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 582,421 shares of company stock valued at $10,454,916 over the last quarter. 13.82% of the stock is owned by corporate insiders.

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.