Swedbank AB Has $14.52 Million Position in Confluent, Inc. $CFLT

Key Points

• Swedbank AB increased its stake in Confluent, Inc. by 24.2%, owning approximately 582,500 shares valued at $14.5 million as of the end of the second quarter.
• Confluent's earnings exceeded analyst expectations, reporting earnings of $0.09 per share and revenue of $282.29 million for the last quarter.
• Analysts have issued a "Moderate Buy" rating for Confluent with an average target price of $27.36, though various firms have recently adjusted their target prices downward.

Swedbank AB grew its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 24.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 582,500 shares of the company's stock after acquiring an additional 113,500 shares during the period. Swedbank AB owned 0.17% of Confluent worth $14,522,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Cloud Capital Management LLC acquired a new position in Confluent in the first quarter worth $26,000. Versant Capital Management Inc raised its position 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 valued at $40,000 after acquiring an additional 1,647 shares during the last quarter. Banque Transatlantique SA bought a new stake in Confluent in the first quarter valued at about $43,000. SVB Wealth LLC bought a new stake in shares of Confluent in the 1st quarter valued at about $54,000. Finally, GAMMA Investing LLC raised its holdings in Confluent by 26.8% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $73,000 after purchasing an additional 661 shares during the period. Institutional investors own 78.09% of the company's stock.

Confluent Stock Performance

Shares of CFLT traded down $0.20 during midday trading on Tuesday, reaching $20.03. 2,246,083 shares of the stock were exchanged, compared to its average volume of 6,652,193. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.03. The stock's 50 day simple moving average is $20.27 and its 200 day simple moving average is $22.30. 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 $6.90 billion, a P/E ratio of -21.31 and a beta of 0.97.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.09 earnings per share for the quarter, topping 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 quarter in the previous year, the company earned $0.06 EPS. The business'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, sell-side analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insider Activity at Confluent

In related news, Director Neha Narkhede sold 153,200 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.85, for a total value of $3,041,020.00. Following the completion of the transaction, the director owned 28,549 shares of the company's stock, valued at $566,697.65. The trade was a 84.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Ban Ryan Norris Mac sold 15,200 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $17.01, for a total transaction of $258,552.00. Following the completion of the transaction, the executive directly owned 397,345 shares in the company, valued at approximately $6,758,838.45. This represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 735,821 shares of company stock worth $13,483,184 in the last quarter. 13.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on CFLT shares. Cowen lowered Confluent from a "buy" rating to a "hold" rating in a research report on Thursday, July 31st. Stifel Nicolaus reiterated a "hold" rating and set a $21.00 target price (down previously from $30.00) on shares of Confluent in a report on Thursday, July 31st. Needham & Company LLC cut 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. Capital One Financial set a $21.00 target price on Confluent in a research note on Thursday, July 31st. Finally, Citigroup dropped their price target on Confluent from $30.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Confluent currently has an average rating of "Moderate Buy" and a consensus target price of $27.36.

Confluent 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.