Price T Rowe Associates Inc. MD Increases Holdings in Confluent, Inc. $CFLT

Key Points

• Price T Rowe Associates Inc. increased its stake in Confluent, Inc. by 13.5% in the first quarter, acquiring 654,827 shares to own about 5.5 million shares valued at approximately $129 million.
• Several other institutional investors have also boosted their holdings, leading to 78.09% of Confluent's stock being owned by institutional investors and hedge funds.
• Analysts have mixed opinions on Confluent, with recent downgrades from Cowen and Robert W. Baird, while others maintain a "buy" or "overweight" rating, resulting in a consensus rating of "Moderate Buy."

Price T Rowe Associates Inc. MD boosted its stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,510,743 shares of the company's stock after acquiring an additional 654,827 shares during the period. Price T Rowe Associates Inc. MD owned 1.62% of Confluent worth $129,173,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. MIG Capital LLC boosted its holdings in Confluent by 11.1% in the first quarter. MIG Capital LLC now owns 1,073,354 shares of the company's stock valued at $25,159,000 after acquiring an additional 107,450 shares during the last quarter. Northern Trust Corp lifted its stake in Confluent by 2.1% in the first quarter. Northern Trust Corp now owns 1,412,390 shares of the company's stock valued at $33,106,000 after buying an additional 29,362 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in Confluent in the first quarter valued at approximately $919,000. Liontrust Investment Partners LLP acquired a new position in Confluent in the first quarter valued at approximately $1,294,000. Finally, Fox Run Management L.L.C. lifted its stake in Confluent by 11.6% in the first quarter. Fox Run Management L.L.C. now owns 80,011 shares of the company's stock valued at $1,875,000 after buying an additional 8,294 shares during the period. 78.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Edward Jay Kreps sold 37,707 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.04, for a total transaction of $642,527.28. Following the completion of the sale, the chief executive officer directly owned 377,074 shares of the company's stock, valued at $6,425,340.96. This trade represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Kong Phan sold 2,664 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.01, for a total value of $45,314.64. Following the sale, the chief accounting officer directly owned 237,078 shares of the company's stock, valued at approximately $4,032,696.78. This represents a 1.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 627,117 shares of company stock worth $13,017,274. 9.20% of the stock is owned by insiders.

Analysts Set New Price Targets

CFLT has been the topic of several recent analyst reports. Robert W. Baird dropped their price target on Confluent from $37.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Canaccord Genuity Group dropped their price target on Confluent from $38.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus reissued a "hold" rating and issued a $21.00 price target (down from $30.00) on shares of Confluent in a research note on Thursday, July 31st. Wells Fargo & Company lowered their target price on Confluent from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Finally, Evercore ISI lowered their target price on Confluent from $29.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Confluent currently has an average rating of "Moderate Buy" and a consensus target price of $27.36.

Confluent Stock Up 6.4%

NASDAQ CFLT traded up $1.20 on Thursday, reaching $20.05. The company had a trading volume of 13,542,396 shares, compared to its average volume of 6,682,413. The stock has a market capitalization of $6.91 billion, a P/E ratio of -21.33 and a beta of 0.96. The company's fifty day moving average is $22.09 and its 200 day moving average is $23.96. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $37.90. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.03.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $282.29 million during the quarter, compared to analyst estimates of $278.32 million. Confluent had a negative return on equity of 27.34% and a negative net margin of 29.27%.Confluent's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Confluent has set its Q3 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.360-0.360 EPS. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

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.