Kayne Anderson Rudnick Investment Management LLC Grows Stake in Confluent, Inc. $CFLT

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Confluent, Inc. by 38.7%, acquiring an additional 31,781 shares to hold a total of 114,000 shares worth approximately $2.67 million.
• Confluent reported a quarterly earnings per share of $0.09, beating analysts' estimates, with a revenue of $282.29 million, reflecting a 20.1% increase compared to the same quarter last year.
• Insider transactions included CFO Rohan Sivaram selling 26,097 shares for $443,909, indicating a 3.94% decrease in their position, while insiders collectively have sold over 627,000 shares in the last quarter.

Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 38.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,000 shares of the company's stock after purchasing an additional 31,781 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Confluent were worth $2,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in shares of Confluent during the first quarter worth about $26,000. Versant Capital Management Inc grew its position in Confluent by 2,458.2% during the 1st 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 purchased a new position in Confluent during the 1st quarter worth $54,000. GAMMA Investing LLC grew its position in Confluent by 26.8% during the 1st 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. grew its stake in shares of Confluent by 39.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,053 shares of the company's stock valued at $95,000 after purchasing an additional 1,143 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CFLT. Barclays decreased their price target on Confluent from $31.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Capital One Financial set a $21.00 target price on Confluent in a research note on Thursday, July 31st. Piper Sandler cut their target price on Confluent from $32.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus reissued a "hold" rating and set a $21.00 target price (down from $30.00) on shares of Confluent in a research note on Thursday, July 31st. Finally, Citigroup lowered their target price 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. 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 issued a Sell rating to the company. According to data from MarketBeat.com, Confluent has a consensus rating of "Moderate Buy" and an average price target of $27.36.

Insider Transactions at Confluent

In other news, CAO Kong Phan sold 2,664 shares of Confluent stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.01, for a total value of $45,314.64. Following the transaction, the chief accounting officer directly owned 237,078 shares of the company's stock, valued at $4,032,696.78. The trade was a 1.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Ban Ryan Norris Mac sold 15,200 shares of Confluent stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $17.01, for a total value of $258,552.00. Following the completion of the transaction, the executive directly owned 397,345 shares in the company, valued at $6,758,838.45. This represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 627,117 shares of company stock valued at $13,017,274 in the last quarter. Insiders own 9.20% of the company's stock.

Confluent Trading Down 0.9%

Confluent stock traded down $0.19 during trading on Friday, reaching $19.86. The company had a trading volume of 5,984,950 shares, compared to its average volume of 10,172,447. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $37.90. The stock's 50 day moving average price is $21.95 and its two-hundred day moving average price is $23.71. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of -21.13 and a beta of 0.96. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.98 and a current ratio of 3.98.

Confluent (NASDAQ:CFLT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Confluent had a negative net margin of 29.27% and a negative return on equity of 27.34%. The firm had revenue of $282.29 million during the quarter, compared to the consensus estimate of $278.32 million. During the same period in the previous year, the firm earned $0.06 earnings per share. Confluent's revenue was up 20.1% compared to the same quarter last year. 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 analysts expect 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.