Pier Capital LLC Has $5.32 Million Stock Holdings in Confluent, Inc. $CFLT

Key Points

• Pier Capital LLC trimmed its stake in Confluent by 42.2% in Q3, selling 196,140 shares and leaving it with 268,535 shares worth about $5.32 million (≈0.08% ownership).
• Company insiders were net sellers: the CEO sold 270,207 shares and the CFO sold 21,503 shares, with insiders unloading 737,249 shares (~$22.47 million) in the last quarter and now owning 9.2% of the stock.
• Confluent beat estimates with $0.12 EPS and $314.82M revenue (up 20.5% YoY) but remains unprofitable (net margin -25.31%), and analysts hold a consensus "Hold" rating with a $28.71 price target.

Pier Capital LLC trimmed its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 42.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,535 shares of the company's stock after selling 196,140 shares during the period. Pier Capital LLC owned about 0.08% of Confluent worth $5,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Confluent in the 2nd quarter worth about $89,736,000. Vanguard Group Inc. lifted its holdings in shares of Confluent by 10.5% during the 3rd quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company's stock valued at $620,675,000 after buying an additional 2,970,708 shares during the last quarter. Atreides Management LP lifted its holdings in shares of Confluent by 82.0% during the 2nd quarter. Atreides Management LP now owns 3,012,215 shares of the company's stock valued at $75,095,000 after buying an additional 1,357,246 shares during the last quarter. Tredje AP fonden bought a new stake in shares of Confluent in the 3rd quarter valued at approximately $20,912,000. Finally, Bienville Capital Management LLC grew its stake in shares of Confluent by 275.9% in the 2nd quarter. Bienville Capital Management LLC now owns 1,267,195 shares of the company's stock valued at $31,591,000 after buying an additional 930,097 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Insider Buying and Selling at Confluent

In other Confluent news, CFO Rohan Sivaram sold 21,503 shares of the business's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $30.70, for a total transaction of $660,142.10. Following the completion of the transaction, the chief financial officer owned 561,966 shares of the company's stock, valued at $17,252,356.20. The trade was a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 270,207 shares of the company's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $30.70, for a total transaction of $8,295,354.90. Following the sale, the chief executive officer owned 301,660 shares of the company's stock, valued at $9,260,962. This trade represents a 47.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 737,249 shares of company stock worth $22,466,678 in the last quarter. 9.20% of the stock is owned by corporate insiders.

Confluent Stock Down 0.1%

CFLT opened at $30.69 on Friday. The business has a 50 day moving average price of $30.55 and a 200 day moving average price of $25.75. Confluent, Inc. has a twelve month low of $15.64 and a twelve month high of $30.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. The firm has a market cap of $10.98 billion, a P/E ratio of -35.69 and a beta of 0.95.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The company had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. During the same quarter last year, the company posted $0.09 earnings per share. The company's revenue for the quarter was up 20.5% compared to the same quarter last year. Research 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. DA Davidson restated a "neutral" rating and issued a $31.00 price objective (up from $29.00) on shares of Confluent in a report on Monday, December 8th. Raymond James Financial cut shares of Confluent from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 9th. Sanford C. Bernstein downgraded shares of Confluent from an "outperform" rating to a "market perform" rating and set a $31.00 target price for the company. in a research report on Friday, January 23rd. Oppenheimer lowered shares of Confluent from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 9th. Finally, Mizuho downgraded shares of Confluent from a "strong-buy" rating to a "hold" rating in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Confluent currently has a consensus rating of "Hold" and a consensus price target of $28.71.

Confluent Company Profile

Confluent, Inc NASDAQ: CFLT is a leading provider of an event streaming platform built on Apache Kafka. The company's flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.

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