Confluent, Inc. $CFLT Stake Lessened by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Confluent, Inc. by 26.3%, selling 48,727 shares in the first quarter, leaving them with 136,237 shares valued at approximately $3.19 million.
• Despite the reduction by Russell, other institutional investors like Vanguard Group Inc. and Phoenix Financial Ltd. have increased their positions significantly, indicating 78.09% of the stock is held by institutional investors.
• Confluent reported a 20.1% year-over-year revenue increase with $282.29 million in quarterly revenue, along with a positive earnings beat of $0.09 EPS against an estimate of $0.08.

Russell Investments Group Ltd. lessened its stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 26.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,237 shares of the company's stock after selling 48,727 shares during the quarter. Russell Investments Group Ltd.'s holdings in Confluent were worth $3,193,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Confluent by 7.2% during 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 during the period. Jericho Capital Asset Management L.P. raised its stake in Confluent by 18.1% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company's stock valued at $83,880,000 after purchasing an additional 459,000 shares during the period. Phoenix Financial Ltd. lifted 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 worth $36,269,000 after acquiring an additional 1,392,615 shares in the last quarter. Northern Trust Corp lifted its position in shares of Confluent by 25.9% in the fourth quarter. Northern Trust Corp now owns 1,383,028 shares of the company's stock worth $38,669,000 after purchasing an additional 284,307 shares in the last quarter. Finally, Vishria Bird Financial Group LLC lifted its position in Confluent by 1,301.3% in the 1st quarter. Vishria Bird Financial Group LLC now owns 1,234,929 shares of the company's stock worth $28,947,000 after buying an additional 1,146,803 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Stock Up 3.0%

NASDAQ CFLT opened at $17.79 on Friday. Confluent, Inc. has a twelve month low of $15.64 and a twelve month high of $37.90. The stock has a market cap of $6.13 billion, a PE ratio of -18.93 and a beta of 0.96. The firm has a 50-day simple moving average of $22.44 and a 200 day simple moving average of $24.16. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.98 and a current ratio of 3.98.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly 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. Confluent had a negative return on equity of 27.34% and a negative net margin of 29.27%.The firm had revenue of $282.29 million during the quarter, compared to analysts' expectations of $278.32 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The company's revenue for the quarter 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. On average, research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CFLT. Piper Sandler cut their price target on Confluent from $32.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Raymond James Financial reduced their price objective on shares of Confluent from $30.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Truist Financial lowered their target price on shares of Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird lowered their price target on Confluent from $37.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company cut their price objective on Confluent from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $27.36.

Insider Transactions at Confluent

In other Confluent news, Director Eric Vishria sold 15,476 shares of Confluent stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $25.00, for a total transaction of $386,900.00. Following the sale, the director owned 1,154,400 shares in the company, valued at $28,860,000. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $17.18, for a total transaction of $3,994,350.00. Following the completion of the transaction, the chief executive officer owned 452,488 shares of the company's stock, valued at approximately $7,773,743.84. This represents a 33.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 627,117 shares of company stock valued at $13,017,274 over the last 90 days. Corporate insiders own 9.20% of the company's stock.

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.

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