Confluent, Inc. $CFLT Stock Position Reduced by Ieq Capital LLC

Key Points

• Ieq Capital LLC has reduced its stake in Confluent, Inc. by 54.1%, now holding 37,135 shares worth $870,000 after selling 43,754 shares.
• Several other hedge funds have made significant changes to their positions in Confluent, with GAMMA Investing LLC increasing its holdings by 26.8% and PNC Financial Services Group boosting its position by 39.3%.
• Confluent's recent earnings report showed a year-over-year revenue increase of 20.1%, with a reported EPS of $0.09, exceeding analysts' expectations.

Ieq Capital LLC decreased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 54.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 37,135 shares of the company's stock after selling 43,754 shares during the period. Ieq Capital LLC's holdings in Confluent were worth $870,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CFLT shares. Raymond James Financial decreased their price target on Confluent from $30.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Citigroup cut their target price on Confluent from $30.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Stifel Nicolaus reissued a "hold" rating and set a $21.00 price objective (down from $30.00) on shares of Confluent in a research report on Thursday, July 31st. TD Cowen restated a "hold" rating and set a $24.00 target price on shares of Confluent in a report on Thursday, July 31st. Finally, Piper Sandler lowered their target price on Confluent from $32.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $27.36.

Confluent Stock Up 4.3%

CFLT stock traded up $0.79 during trading on Friday, hitting $19.34. 7,858,970 shares of the company's stock were exchanged, compared to its average volume of 8,821,518. The business has a 50-day moving average price of $21.46 and a two-hundred day moving average price of $23.17. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of -20.57 and a beta of 0.97. Confluent, Inc. has a 52-week low of $15.64 and a 52-week 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 released its quarterly earnings results on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $282.29 million for the quarter, compared to analyst estimates 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 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. As a group, equities research analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Activity

In other Confluent news, CAO Kong Phan sold 3,575 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $23.49, for a total transaction of $83,976.75. Following the sale, the chief accounting officer directly owned 239,742 shares in the company, valued at approximately $5,631,539.58. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rohan Sivaram sold 26,097 shares of the company's 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 owned 636,596 shares in the company, valued at $10,828,497.96. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 352,785 shares of company stock valued at $6,185,488 over the last three months. 9.20% of the stock is currently owned by corporate insiders.

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.