Driehaus Capital Management LLC Buys Shares of 1,704,089 Confluent, Inc. $CFLT

Key Points

• Driehaus Capital Management LLC has acquired a new stake in Confluent, Inc., investing approximately $39.94 million and owning about 0.50% of the company.
• Confluent’s recent quarterly earnings showed revenue growth of 20.1% year-over-year, with a reported EPS of $0.09, beating estimates.
• Institutional investors hold a significant majority, with 78.09% of Confluent's stock owned by such entities, reflecting strong interest in the company.

Driehaus Capital Management LLC purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,704,089 shares of the company's stock, valued at approximately $39,944,000. Driehaus Capital Management LLC owned approximately 0.50% of Confluent as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Confluent by 40.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 208,043 shares of the company's stock worth $5,819,000 after purchasing an additional 60,346 shares during the period. Stifel Financial Corp increased its holdings in shares of Confluent by 2.7% in the 4th quarter. Stifel Financial Corp now owns 42,475 shares of the company's stock valued at $1,188,000 after purchasing an additional 1,136 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Confluent by 19.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 127,306 shares of the company's stock valued at $3,559,000 after acquiring an additional 21,010 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Confluent by 25.9% during the fourth quarter. Northern Trust Corp now owns 1,383,028 shares of the company's stock worth $38,669,000 after buying an additional 284,307 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Confluent by 756.2% during the fourth quarter. AQR Capital Management LLC now owns 325,539 shares of the company's stock worth $9,102,000 after buying an additional 287,519 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Confluent Stock Down 0.9%

Shares of CFLT traded down $0.19 during mid-day trading on Monday, reaching $19.86. 5,984,950 shares of the stock traded hands, compared to its average volume of 9,494,722. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of -21.13 and a beta of 0.97. The stock has a fifty day simple moving average of $21.95 and a 200 day simple moving average of $23.63. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $37.90. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.03.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $282.29 million during the quarter, compared to analyst estimates of $278.32 million. Confluent had a negative net margin of 29.27% and a negative return on equity of 27.34%. The business's revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Confluent has set its Q3 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.360-0.360 EPS. Sell-side analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Kong Phan sold 2,664 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 value of $45,314.64. Following the completion of the sale, the chief accounting officer owned 237,078 shares in the company, valued at approximately $4,032,696.78. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Ban Ryan Norris Mac sold 15,200 shares of Confluent stock in a transaction 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 completion of the sale, the executive owned 397,345 shares of the company's stock, 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. In the last quarter, insiders have sold 599,117 shares of company stock valued at $12,377,994. 13.82% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CFLT shares. Citigroup decreased their target price on shares of Confluent from $30.00 to $20.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Capital One Financial set a $21.00 target price on shares of Confluent in a research report on Thursday, July 31st. TD Cowen reissued a "hold" rating and issued a $24.00 target price on shares of Confluent in a research report on Thursday, July 31st. Needham & Company LLC decreased their price objective on shares of Confluent from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Finally, Cowen lowered shares of Confluent from a "buy" rating to a "hold" rating in a research report on Thursday, July 31st. Two 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 issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.36.

Confluent Company 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.