Canada Pension Plan Investment Board Grows Stock Holdings in Confluent, Inc. $CFLT

Key Points

• The Canada Pension Plan Investment Board significantly boosted its stake in Confluent, Inc. by 27,666.7%, acquiring a total of 83,300 shares valued at approximately $1.95 million.
• Confluent's stock has seen a 3.5% decline recently, with a current price of $18.55 and a market capitalization of $6.39 billion.
• Several analysts have adjusted their target prices for Confluent, with updates from Guggenheim and Oppenheimer placing it between $24 and $29, reflecting a cautious outlook on the stock.

Canada Pension Plan Investment Board grew its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 27,666.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 83,300 shares of the company's stock after purchasing an additional 83,000 shares during the period. Canada Pension Plan Investment Board's holdings in Confluent were worth $1,953,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in 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. Champlain Investment Partners LLC increased its position in shares of Confluent by 0.3% during the first quarter. Champlain Investment Partners LLC now owns 10,862,083 shares of the company's stock valued at $254,607,000 after purchasing an additional 27,329 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Confluent by 13.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,510,743 shares of the company's stock worth $129,173,000 after purchasing an additional 654,827 shares during the period. 1832 Asset Management L.P. bought a new stake in Confluent in the first quarter valued at $48,547,000. Finally, Phoenix Financial Ltd. lifted its holdings in Confluent by 901.4% during the 1st 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. 78.09% of the stock is currently owned by institutional investors.

Confluent Trading Up 0.3%

NASDAQ:CFLT traded up $0.05 on Wednesday, reaching $20.01. 5,026,226 shares of the stock traded hands, compared to its average volume of 8,214,284. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $37.90. The company's 50 day moving average is $21.15 and its 200-day moving average is $22.99. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of -21.29 and a beta of 0.97. 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 (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate 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 company had revenue of $282.29 million during the quarter, compared to the consensus estimate of $278.32 million. During the same quarter last year, the firm posted $0.06 EPS. The company's quarterly 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 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CFLT has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Confluent from $32.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Guggenheim decreased their target price on Confluent from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. DA Davidson cut their price objective on shares of Confluent from $32.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Barclays decreased their target price on shares of Confluent from $31.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. Finally, Royal Bank Of Canada decreased their target price on Confluent from $28.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $27.36.

Insider Buying and Selling

In other Confluent news, CFO Rohan Sivaram sold 26,097 shares of the stock in a transaction 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 represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Ban Ryan Norris Mac sold 15,200 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $17.01, for a total transaction of $258,552.00. Following the transaction, the executive directly owned 397,345 shares of the company's stock, valued at approximately $6,758,838.45. This represents a 3.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 587,421 shares of company stock worth $10,554,916 in the last ninety days. Corporate insiders own 9.20% 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.