MIG Capital LLC Purchases 107,450 Shares of Confluent, Inc. $CFLT

Key Points

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MIG Capital LLC grew its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,073,354 shares of the company's stock after acquiring an additional 107,450 shares during the quarter. Confluent accounts for 3.1% of MIG Capital LLC's portfolio, making the stock its 18th biggest holding. MIG Capital LLC owned approximately 0.32% of Confluent worth $25,159,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Confluent by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 26,620,150 shares of the company's stock worth $623,976,000 after acquiring an additional 1,791,588 shares during the last quarter. Nuveen LLC bought a new stake in Confluent in the 1st quarter worth approximately $28,791,000. Principal Financial Group Inc. increased its stake in Confluent by 47.3% in the 1st quarter. Principal Financial Group Inc. now owns 528,171 shares of the company's stock worth $12,380,000 after acquiring an additional 169,576 shares during the last quarter. Amalgamated Bank increased its stake in Confluent by 3.4% in the 1st quarter. Amalgamated Bank now owns 16,995 shares of the company's stock worth $398,000 after acquiring an additional 566 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Confluent by 5.2% in the 4th quarter. Janus Henderson Group PLC now owns 107,900 shares of the company's stock worth $3,017,000 after acquiring an additional 5,300 shares during the last quarter. Institutional investors own 78.09% of the company's stock.

Confluent Trading Up 3.0%

Shares of CFLT stock traded up $0.51 on Friday, reaching $17.79. 8,778,537 shares of the company's stock were exchanged, compared to its average volume of 11,773,086. 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. The stock has a market capitalization of $6.13 billion, a PE ratio of -18.93 and a beta of 0.96. The company's fifty day simple moving average is $22.44 and its 200 day simple moving average is $24.20.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings results 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. Confluent had a negative return on equity of 27.34% and a negative net margin of 29.27%.The firm had revenue of $282.29 million during the quarter, compared to analyst estimates of $278.32 million. During the same period last year, the company earned $0.06 EPS. Confluent's quarterly 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, analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

CFLT has been the topic of a number of research reports. Raymond James Financial reduced their price objective on Confluent from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus reiterated a "hold" rating and issued a $21.00 target price (down previously from $30.00) on shares of Confluent in a report on Thursday, July 31st. Cowen cut Confluent from a "buy" rating to a "hold" rating in a report on Thursday, July 31st. UBS Group dropped their target price on Confluent from $32.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Finally, Robert W. Baird dropped their target price on Confluent from $37.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. 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 given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.36.

Insider Activity

In related news, CAO Kong Phan sold 2,664 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.01, for a total transaction of $45,314.64. Following the completion of the sale, the chief accounting officer directly owned 237,078 shares of the company's stock, valued at approximately $4,032,696.78. This trade represents a 1.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rohan Sivaram sold 26,097 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.01, for a total value of $443,909.97. Following the sale, the chief financial officer directly owned 636,596 shares of the company's stock, 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 sold 627,117 shares of company stock worth $13,017,274 in the last three months. Corporate 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.