Confluent, Inc. $CFLT Shares Acquired by Harber Asset Management LLC

Key Points

• Harber Asset Management LLC increased its stake in Confluent, Inc. by 42.2%, now holding a total of 255,957 shares valued around $6 million, making Confluent its 22nd largest holding.
• Insider selling was reported, including Director Lara Caimi selling 2,864 shares for about $69,022, representing a 40% reduction in her position.
• Confluent's stock has shown volatility with a 52-week range between $15.64 and $37.90, and it recently had a price target adjusted by analysts, with the consensus now at $27.36.

Harber Asset Management LLC boosted its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 42.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 255,957 shares of the company's stock after buying an additional 75,957 shares during the period. Confluent makes up about 2.1% of Harber Asset Management LLC's investment portfolio, making the stock its 22nd largest position. Harber Asset Management LLC owned 0.08% of Confluent worth $6,000,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. 1832 Asset Management L.P. purchased a new stake in shares of Confluent during the first quarter valued at approximately $48,547,000. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 1,791,588 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Confluent during the first quarter valued at approximately $39,944,000. Phoenix Financial Ltd. raised its stake in shares of Confluent by 901.4% during the first quarter. Phoenix Financial Ltd. now owns 1,547,112 shares of the company's stock valued at $36,269,000 after purchasing an additional 1,392,615 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Confluent during the first quarter valued at approximately $28,791,000. Hedge funds and other institutional investors own 78.09% of the company's stock.

Insider Activity at Confluent

In other news, Director Eric Vishria sold 15,476 shares of the business's 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 completion of the transaction, the director owned 1,154,400 shares of the company's stock, valued at approximately $28,860,000. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction, the chief executive officer directly owned 452,488 shares of the company's stock, valued at approximately $7,773,743.84. This trade represents a 33.94% 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. Company insiders own 13.82% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James Financial dropped their price objective on shares of Confluent from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Piper Sandler dropped their price objective on shares of Confluent from $32.00 to $27.00 and set an "overweight" rating on the stock in a research note 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 research report on Monday, August 4th. DA Davidson decreased their price target 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. Finally, UBS Group decreased their price target 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. Two equities research 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.36.

Confluent Stock Performance

Confluent stock traded down $0.19 during mid-day trading on Monday, reaching $19.86. The company's stock had a trading volume of 5,984,950 shares, 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 business has a 50 day moving average price of $21.88 and a 200-day moving average price of $23.52. 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, Inc. has a twelve month low of $15.64 and a twelve month high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. The firm had revenue of $282.29 million during the quarter, compared to the consensus estimate of $278.32 million. Confluent had a negative net margin of 29.27% and a negative return on equity of 27.34%. The firm's revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company 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. Sell-side analysts predict that Confluent, Inc. will post -0.83 EPS 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.