42,405 Shares in Confluent, Inc. $CFLT Acquired by Jump Financial LLC

Key Points

• Jump Financial LLC has acquired a new stake in Confluent, Inc., purchasing 42,405 shares worth approximately $994,000 in the first quarter of 2023.
• Various large investors are increasing their stakes in Confluent, indicating strong institutional interest, with 78.09% of the company's stock now owned by institutional investors.
• Analysts have varied opinions on Confluent's stock, with a consensus rating of "Moderate Buy" and an average price target of $27.36, and significant price adjustments made by major firms recently.

Jump Financial LLC acquired a new stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 42,405 shares of the company's stock, valued at approximately $994,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CFLT. Cloud Capital Management LLC bought a new stake in Confluent in the first quarter worth $26,000. Versant Capital Management Inc increased its position in Confluent by 2,458.2% in the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after purchasing an additional 1,647 shares during the last quarter. SVB Wealth LLC bought a new stake in Confluent in the first quarter worth $54,000. GAMMA Investing LLC increased its position in Confluent by 26.8% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $73,000 after purchasing an additional 661 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Confluent by 39.3% in the first quarter. PNC Financial Services Group Inc. now owns 4,053 shares of the company's stock worth $95,000 after purchasing an additional 1,143 shares during the last quarter. Institutional investors own 78.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CFLT. Citigroup reduced their price target 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. Stifel Nicolaus restated a "hold" rating and issued a $21.00 price target (down previously from $30.00) on shares of Confluent in a research report on Thursday, July 31st. Capital One Financial set a $21.00 price target on shares of Confluent in a research report on Thursday, July 31st. UBS Group cut their price objective on shares of Confluent from $32.00 to $28.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Finally, Raymond James Financial cut their price objective on shares of Confluent from $30.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $27.36.

Confluent Trading Down 0.9%

Shares of NASDAQ CFLT traded down $0.19 during mid-day trading on Monday, reaching $19.86. The company had a trading volume of 5,984,950 shares, compared to its average volume of 9,494,722. The business's 50-day moving average is $21.88 and its 200-day moving average is $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. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of -21.13 and a beta of 0.97. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations 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 for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior 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. Equities analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insider Transactions at Confluent

In other news, Director Michelangelo Volpi sold 25,000 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $25.00, for a total value of $625,000.00. Following the transaction, the director directly owned 267,079 shares in the company, valued at approximately $6,676,975. This represents a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Rohan Sivaram sold 26,097 shares of the company'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 $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 approximately $10,828,497.96. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 599,117 shares of company stock valued at $12,377,994. Company insiders own 13.82% of the company's stock.

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.