Greenhouse Funds LLLP Has $58.98 Million Stake in Confluent, Inc. $CFLT

Key Points

• Greenhouse Funds LLLP increased its stake in Confluent, Inc. by 38.2% during the first quarter, holding a total of 2,516,338 shares valued at approximately $58.98 million.
• Several hedge funds, including Vanguard Group and Alyeska Investment Group, have also increased their holdings in Confluent, indicating growing institutional interest in the stock.
• Analysts have revised their price targets for Confluent, with estimates now ranging from $20.00 to $29.00, reflecting a cautious outlook for the company despite a recent earnings beat.

Greenhouse Funds LLLP boosted its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 38.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,516,338 shares of the company's stock after buying an additional 695,892 shares during the quarter. Confluent comprises 2.8% of Greenhouse Funds LLLP's portfolio, making the stock its 17th biggest holding. Greenhouse Funds LLLP owned 0.74% of Confluent worth $58,983,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Confluent by 7.2% during the first quarter. Vanguard Group Inc. now owns 26,620,150 shares of the company's stock valued at $623,976,000 after acquiring an additional 1,791,588 shares during the period. Altimeter Capital Management LP boosted its holdings in Confluent by 11.0% during the first quarter. Altimeter Capital Management LP now owns 13,042,080 shares of the company's stock valued at $305,706,000 after acquiring an additional 1,295,710 shares during the period. Champlain Investment Partners LLC boosted its holdings in Confluent by 0.3% during the first quarter. Champlain Investment Partners LLC now owns 10,862,083 shares of the company's stock valued at $254,607,000 after acquiring an additional 27,329 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Confluent by 13.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,510,743 shares of the company's stock valued at $129,173,000 after acquiring an additional 654,827 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in Confluent by 220.2% during the first quarter. Alyeska Investment Group L.P. now owns 2,597,346 shares of the company's stock valued at $60,882,000 after acquiring an additional 1,786,116 shares during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CFLT shares. Raymond James Financial decreased their price target on shares of Confluent from $30.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Needham & Company LLC decreased their price target on shares of Confluent from $26.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Citigroup decreased their price target on shares of Confluent from $30.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Guggenheim cut their price objective on shares of Confluent from $31.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Finally, DA Davidson cut their price objective on shares of Confluent from $32.00 to $24.00 and set a "buy" rating for the company 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 issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.36.

Insider Transactions at Confluent

In other news, 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 directly owned 397,345 shares of the company's stock, valued at $6,758,838.45. This trade represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the business's 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 sale, the chief executive officer directly owned 452,488 shares in the company, valued at $7,773,743.84. This represents a 33.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 352,785 shares of company stock valued at $6,185,488. 13.82% of the stock is currently owned by company insiders.

Confluent Stock Performance

NASDAQ:CFLT opened at $19.23 on Thursday. 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. The firm has a market capitalization of $6.63 billion, a PE ratio of -20.46 and a beta of 0.97. The firm has a 50-day moving average price of $21.69 and a 200 day moving average price of $23.46.

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 company 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 company's revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business posted $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. Research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

About Confluent

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.

Want to see what other hedge funds are holding CFLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Confluent, Inc. (NASDAQ:CFLT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.