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

A number of other institutional investors have also made changes to their positions in the business. Mariner LLC raised its position in Confluent by 23.1% during the fourth quarter. Mariner LLC now owns 28,359 shares of the company's stock worth $793,000 after acquiring an additional 5,325 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Confluent by 40.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 208,043 shares of the company's stock worth $5,819,000 after acquiring an additional 60,346 shares in the last quarter. Stifel Financial Corp raised its position in Confluent by 2.7% during the fourth quarter. Stifel Financial Corp now owns 42,475 shares of the company's stock worth $1,188,000 after acquiring an additional 1,136 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of 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 purchasing an additional 21,010 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of 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 purchasing an additional 284,307 shares during the last quarter. Institutional investors own 78.09% of the company's stock.

Analysts Set New Price Targets

CFLT has been the topic of several research reports. Piper Sandler decreased their price objective on shares of Confluent from $32.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. TD Securities decreased their price objective on shares of Confluent from $34.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Truist Financial decreased their price objective on shares of Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Oppenheimer decreased their price objective on shares of Confluent from $32.00 to $26.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Finally, DA Davidson decreased their price objective on shares of Confluent from $32.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Confluent presently has an average rating of "Moderate Buy" and an average target price of $27.36.

Confluent Price Performance

Confluent stock traded up $1.20 during trading hours on Thursday, reaching $20.05. 13,542,396 shares of the stock were exchanged, compared to its average volume of 12,060,431. The company has a market cap of $6.91 billion, a P/E ratio of -21.33 and a beta of 0.96. 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. The stock has a 50 day moving average of $22.01 and a two-hundred day moving average of $23.88.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.09 earnings per share (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 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 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 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. Equities analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity

In other Confluent news, CFO Rohan Sivaram sold 26,097 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $17.01, for a total transaction of $443,909.97. Following the sale, the chief financial officer directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 37,707 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.04, for a total transaction of $642,527.28. Following the sale, the chief executive officer owned 377,074 shares in the company, valued at $6,425,340.96. The trade was a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 627,117 shares of company stock valued at $13,017,274. Company insiders own 9.20% of the company's stock.

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.