Eventide Asset Management LLC Has $1.76 Million Position in Confluent, Inc. $CFLT

Key Points

• Eventide Asset Management LLC has significantly reduced its holdings in Confluent, Inc. by 93.4%, selling over 1 million shares and leaving it with only 75,173 shares valued at approximately $1.76 million.
• Confluent reported earnings of $0.09 per share for the last quarter, exceeding analysts' expectations, with revenues reaching $282.29 million, up 20.1% from the previous year.
• Analysts offer a consensus rating of "Moderate Buy" on Confluent's stock, with a target price of around $27.36, despite recent price adjustments from several firms, reflecting varying levels of confidence in the company's future growth.

Eventide Asset Management LLC decreased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 93.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,173 shares of the company's stock after selling 1,055,718 shares during the quarter. Eventide Asset Management LLC's holdings in Confluent were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew 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 valued at $5,819,000 after acquiring an additional 60,346 shares in the last quarter. Stifel Financial Corp grew its position in Confluent by 2.7% during the fourth 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 lifted its position in Confluent by 19.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 127,306 shares of the company's stock worth $3,559,000 after buying an additional 21,010 shares in the last quarter. Northern Trust Corp lifted its position in Confluent by 25.9% in the 4th 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, Comerica Bank grew its holdings in shares of Confluent by 2,388.0% during the 4th quarter. Comerica Bank now owns 64,339 shares of the company's stock valued at $1,799,000 after acquiring an additional 61,753 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Confluent Stock Performance

CFLT traded down $0.28 during trading on Tuesday, hitting $19.96. The stock had a trading volume of 6,830,748 shares, compared to its average volume of 6,714,899. The firm has a market cap of $6.88 billion, a PE ratio of -21.23 and a beta of 0.97. The company has a 50 day simple moving average of $21.37 and a 200-day simple moving average of $23.03. Confluent, Inc. has a 12 month low of $15.64 and a 12 month high of $37.90. 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 (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The business 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 firm'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 EPS. Confluent has set its Q3 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.360-0.360 EPS. Analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling

In other Confluent news, CFO Rohan Sivaram sold 26,097 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.01, for a total value 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 $10,828,497.96. This represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Kong Phan sold 2,664 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.01, for a total transaction of $45,314.64. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 585,285 shares of company stock valued at $10,523,938 in the last ninety days. Company insiders own 13.82% of the company's stock.

Analysts Set New Price Targets

CFLT has been the subject of several recent research reports. DA Davidson cut their price objective on Confluent from $32.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, July 31st. TD Cowen reiterated a "hold" rating and set a $24.00 price target on shares of Confluent in a report on Thursday, July 31st. Zacks Research upgraded Confluent from a "strong sell" rating to a "hold" rating in a report on Monday, September 1st. Barclays decreased their target price on shares of Confluent from $31.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Finally, Stephens assumed coverage on shares of Confluent in a report on Friday, July 18th. They issued an "overweight" rating and a $31.00 price objective for the company. Two 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.