Cresset Asset Management LLC Cuts Position in Confluent, Inc. $CFLT

Key Points

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Cresset Asset Management LLC lowered its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 66.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,016 shares of the company's stock after selling 350,616 shares during the quarter. Cresset Asset Management LLC owned about 0.05% of Confluent worth $4,126,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted 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 acquiring an additional 1,791,588 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its position in Confluent by 18.1% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company's stock valued at $83,880,000 after acquiring an additional 459,000 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Confluent during the fourth quarter valued at $64,658,000. Greenhouse Funds LLLP boosted its position in Confluent by 102.2% during the fourth quarter. Greenhouse Funds LLLP now owns 1,820,446 shares of the company's stock valued at $50,900,000 after acquiring an additional 919,997 shares during the last quarter. Finally, Phoenix Financial Ltd. boosted its position in Confluent by 901.4% during the first 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 last quarter. Institutional investors own 78.09% of the company's stock.

Insider Transactions at Confluent

In other news, CFO Rohan Sivaram sold 26,097 shares of Confluent stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.01, for a total transaction of $443,909.97. Following the completion of the sale, the chief financial officer directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michelangelo Volpi sold 25,000 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $25.00, for a total transaction of $625,000.00. Following the completion of the sale, the director directly owned 267,079 shares of the company's stock, valued at $6,676,975. This represents a 8.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 627,117 shares of company stock worth $13,017,274. 13.82% of the stock is owned by corporate insiders.

Confluent Stock Performance

Shares of CFLT stock traded up $0.51 during trading hours on Friday, hitting $17.79. 8,778,537 shares of the company were exchanged, compared to its average volume of 11,921,154. The firm has a fifty day simple moving average of $22.44 and a 200 day simple moving average of $24.12. 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 stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of -18.93 and a beta of 0.96.

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 the consensus estimate of $0.08 by $0.01. The company had revenue of $282.29 million during 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%. Confluent's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. Confluent has set its Q3 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.360-0.360 EPS. Research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on CFLT. Needham & Company LLC cut their price target on shares of Confluent from $26.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Truist Financial cut their price objective on shares of Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus reissued a "hold" rating and set a $21.00 price objective (down previously from $30.00) on shares of Confluent in a research report on Thursday, July 31st. Wells Fargo & Company cut their price objective on shares of Confluent from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Finally, Barclays cut their price objective on shares of Confluent from $31.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Confluent has a consensus rating of "Moderate Buy" and a consensus price target of $27.36.

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.