Sciencast Management LP Invests $552,000 in Confluent, Inc. $CFLT

Key Points

• Sciencast Management LP has acquired 23,547 shares of Confluent, Inc. (NASDAQ:CFLT) valued at approximately $552,000 in the first quarter, highlighting ongoing interest from institutional investors.
• Confluent's quarterly earnings surpassed analysts' estimates, reporting earnings per share of $0.09 against a consensus of $0.08, along with a revenue of $282.29 million.
• Recent insider transactions revealed that CFO Rohan Sivaram sold 26,097 shares at an average price of $17.01, reflecting a 3.94% reduction in his ownership stake.

Sciencast Management LP purchased a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,547 shares of the company's stock, valued at approximately $552,000.

Several other hedge funds also recently added to or reduced their stakes in CFLT. Vanguard Group Inc. grew its position in shares of Confluent by 7.2% during the first 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 acquired a new stake in Confluent in the first quarter valued at $28,791,000. Principal Financial Group Inc. raised its stake in shares of Confluent by 47.3% during the 1st quarter. Principal Financial Group Inc. now owns 528,171 shares of the company's stock worth $12,380,000 after buying an additional 169,576 shares during the last quarter. Amalgamated Bank raised its stake in shares of Confluent by 3.4% during the 1st quarter. Amalgamated Bank now owns 16,995 shares of the company's stock worth $398,000 after buying an additional 566 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Confluent by 5.2% during the 4th quarter. Janus Henderson Group PLC now owns 107,900 shares of the company's stock worth $3,017,000 after purchasing an additional 5,300 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CFLT has been the subject of several recent analyst reports. Capital One Financial set a $21.00 price target on Confluent in a report on Thursday, July 31st. Oppenheimer lowered their price target on Confluent from $32.00 to $26.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. DA Davidson reduced their price objective on Confluent from $32.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Cowen lowered Confluent from a "buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada dropped their price objective on shares of Confluent from $28.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Two investment 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.36.

Confluent Stock Down 1.1%

Shares of CFLT traded down $0.21 during trading on Friday, reaching $19.24. The company's stock had a trading volume of 4,624,908 shares, compared to its average volume of 7,401,413. The company has a fifty day moving average of $20.87 and a two-hundred day moving average of $22.71. Confluent, Inc. has a twelve month low of $15.64 and a twelve month high of $37.90. The company has a market cap of $6.63 billion, a price-to-earnings ratio of -20.47 and a beta of 0.97. 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 announced 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. The company had revenue of $282.29 million for 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% on a year-over-year basis. During the same period in the prior year, the company 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. On average, sell-side analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In related news, CRO Ban Ryan Norris Mac sold 15,200 shares of the company'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 $258,552.00. Following the sale, the executive directly owned 397,345 shares of the company's stock, valued at approximately $6,758,838.45. This represents a 3.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rohan Sivaram sold 5,000 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the transaction, the chief financial officer owned 631,596 shares of the company's stock, valued at approximately $12,631,920. The trade was a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 740,621 shares of company stock worth $13,595,936. 9.20% of the stock is owned by insiders.

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.