Confluent, Inc. $CFLT Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its stake in Confluent, Inc. by 3.8% during the first quarter, holding approximately 689,949 shares valued at around $16.17 million.
• Insider trading activity includes significant sales by executives, with the CEO selling 232,500 shares at an average price of $18.66, decreasing his ownership by 38.14%.
• Confluent reported earnings of $0.09 EPS for the last quarter, surpassing analyst expectations, and forecasts a negative EPS of -0.83 for the current fiscal year.

Great Lakes Advisors LLC decreased its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 689,949 shares of the company's stock after selling 27,531 shares during the quarter. Great Lakes Advisors LLC owned about 0.20% of Confluent worth $16,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CFLT. Cloud Capital Management LLC acquired a new position in Confluent in the 1st quarter valued at about $26,000. Versant Capital Management Inc increased its stake in shares of Confluent by 2,458.2% during the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock valued at $40,000 after acquiring an additional 1,647 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of Confluent during the 1st quarter valued at about $43,000. SVB Wealth LLC acquired a new position in shares of Confluent during the 1st quarter valued at about $54,000. Finally, GAMMA Investing LLC increased its stake in shares of Confluent by 26.8% during the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $73,000 after acquiring an additional 661 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Confluent Stock Down 1.1%

Shares of Confluent stock traded down $0.21 on Friday, hitting $19.24. 4,624,908 shares of the company's stock traded hands, compared to its average volume of 7,401,413. The stock has a market cap of $6.63 billion, a P/E ratio of -20.47 and a beta of 0.97. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.03. The firm's 50-day moving average is $20.87 and its 200 day moving average is $22.71. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $282.29 million during the quarter, compared to analysts' expectations of $278.32 million. Confluent had a negative return on equity of 27.34% and a negative net margin of 29.27%.The business's revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted $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. Equities analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CFLT shares. Barclays dropped their price objective 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. UBS Group dropped their price objective on shares of Confluent from $32.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. TD Cowen reaffirmed a "hold" rating and set a $24.00 price objective on shares of Confluent in a research note on Thursday, July 31st. Citigroup dropped their price objective on shares of Confluent from $30.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Finally, Piper Sandler dropped their price objective on shares of Confluent from $32.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Confluent has a consensus rating of "Moderate Buy" and a consensus price target of $27.36.

Insider Buying and Selling at Confluent

In related news, CRO Ban Ryan Norris Mac sold 15,200 shares of the company'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 $258,552.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rohan Sivaram sold 5,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the chief financial officer directly owned 631,596 shares in the company, valued at approximately $12,631,920. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 740,621 shares of company stock worth $13,595,936. 9.20% of the stock is owned by insiders.

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.