Sumitomo Mitsui DS Asset Management Company Ltd Makes New Investment in Confluent, Inc. $CFLT

Key Points

• Sumitomo Mitsui DS Asset Management made a new investment in Confluent, Inc., acquiring 12,485 shares valued at approximately $311,000 during the 2nd quarter of 2023.
• Institutional investors now own 78.09% of Confluent's stock, with significant transactions involving Cloud Capital Management and Versant Capital Management among others in the 1st quarter.
• Equity analysts have lowered their price targets for Confluent's stock, with Piper Sandler reducing it from $32.00 to $27.00, while maintaining an "overweight" rating for the company.

Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 12,485 shares of the company's stock, valued at approximately $311,000.

Other hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in Confluent during the 1st quarter worth approximately $26,000. Versant Capital Management Inc grew its stake in shares of Confluent by 2,458.2% during the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after acquiring an additional 1,647 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of Confluent during the 1st quarter worth approximately $43,000. SVB Wealth LLC bought a new position in shares of Confluent during the 1st quarter worth approximately $54,000. Finally, GAMMA Investing LLC grew its stake in shares of Confluent by 26.8% during the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $73,000 after acquiring an additional 661 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Confluent

In other Confluent news, Director Eric Vishria sold 30,953 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $20.00, for a total transaction of $619,060.00. Following the completion of the sale, the director owned 1,123,447 shares of the company's stock, valued at $22,468,940. This trade represents a 2.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Ban Ryan Norris Mac sold 15,200 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 $258,552.00. Following the sale, the executive directly owned 397,345 shares of the company's stock, valued at $6,758,838.45. This represents a 3.68% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 735,821 shares of company stock worth $13,483,184. 13.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of Confluent from $32.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Needham & Company LLC decreased their price target on shares of Confluent from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. DA Davidson decreased their price target on shares of Confluent from $32.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Raymond James Financial decreased their price target on shares of Confluent from $30.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Stifel Nicolaus reaffirmed a "hold" rating and set a $21.00 price target (down from $30.00) on shares of Confluent in a research note on Thursday, July 31st. One equities research analyst has 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $27.36.

Confluent Price Performance

NASDAQ:CFLT opened at $20.22 on Tuesday. Confluent, Inc. has a 1-year low of $15.64 and a 1-year 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 firm has a fifty day simple moving average of $20.27 and a 200 day simple moving average of $22.30. The stock has a market capitalization of $6.97 billion, a PE ratio of -21.51 and a beta of 0.97.

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

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.

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