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Coronation Fund Managers Ltd. Takes Position in Confluent, Inc. $CFLT

Confluent logo with Computer and Technology background

Key Points

  • Coronation Fund Managers Ltd. acquired a stake in Confluent, Inc., purchasing 411,153 shares valued at approximately $10.25 million, representing about 0.12% ownership of the company as of the latest SEC filing.
  • Analysts have adjusted their price targets for Confluent, with UBS Group and Piper Sandler lowering theirs to $28 and $27 respectively, while the overall consensus remains a "Moderate Buy" with an average target price of $27.43.
  • Insider trading activity includes the sale of 153,200 shares by Director Neha Narkhede, marking a significant decrease in ownership, while insiders have sold a total of 741,584 shares worth approximately $13.6 million in the past 90 days.
  • MarketBeat previews the top five stocks to own by November 1st.

Coronation Fund Managers Ltd. bought a new stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 411,153 shares of the company's stock, valued at approximately $10,250,000. Coronation Fund Managers Ltd. owned approximately 0.12% of Confluent as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Cloud Capital Management LLC bought a new position in shares of Confluent during the first quarter valued at approximately $26,000. Farther Finance Advisors LLC increased its stake in shares of Confluent by 252.3% during the second quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company's stock valued at $36,000 after purchasing an additional 1,037 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of Confluent during the first quarter valued at approximately $43,000. SVB Wealth LLC bought a new stake in shares of Confluent during the first quarter valued at approximately $54,000. Finally, GAMMA Investing LLC increased its position in shares of Confluent by 26.8% during the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $73,000 after acquiring an additional 661 shares in the last quarter. Institutional investors own 78.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on CFLT. UBS Group cut their target price on shares of Confluent from $32.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Piper Sandler cut their target price on shares of Confluent from $32.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Needham & Company LLC cut their target price on shares of Confluent from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Zacks Research raised shares of Confluent from a "strong sell" rating to a "hold" rating in a research report on Monday, September 1st. Finally, Raymond James Financial cut their target price on shares of Confluent from $30.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Confluent has an average rating of "Moderate Buy" and an average target price of $27.43.

Get Our Latest Report on CFLT

Insider Activity at Confluent

In related news, Director Neha Narkhede sold 153,200 shares of Confluent stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.85, for a total transaction of $3,041,020.00. Following the transaction, the director owned 28,549 shares in the company, valued at approximately $566,697.65. The trade was a 84.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Ban Ryan Norris Mac sold 15,200 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 $258,552.00. Following the transaction, the executive owned 397,345 shares in the company, valued at approximately $6,758,838.45. This trade represents a 3.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 741,584 shares of company stock worth $13,597,695 in the last 90 days. Company insiders own 9.20% of the company's stock.

Confluent Trading Up 0.6%

Shares of Confluent stock opened at $22.56 on Tuesday. The company's fifty day simple moving average is $19.84 and its 200-day simple moving average is $21.75. The stock has a market capitalization of $7.78 billion, a PE ratio of -24.00 and a beta of 0.96. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $37.90. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.98 and a quick ratio of 3.98.

Confluent (NASDAQ:CFLT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $278.32 million. During the same quarter in the previous year, the company earned $0.06 EPS. Confluent'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. As a group, equities analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

About Confluent

(Free Report)

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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Institutional Ownership by Quarter for Confluent (NASDAQ:CFLT)

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