1,059,340 Shares in Confluent, Inc. $CFLT Purchased by ThornTree Capital Partners LP

Key Points

• ThornTree Capital Partners LP recently acquired a stake in Confluent, Inc., investing approximately $24.83 million for 1,059,340 shares, making it the fund's 11th largest position.
• Confluent's latest quarterly earnings beat analysts' expectations, reporting $0.09 earnings per share and revenues of $282.29 million, a 20.1% increase year-over-year.
• Institutional investors hold 78.09% of Confluent's stock, indicating strong confidence in the company from major financial players.

ThornTree Capital Partners LP bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,059,340 shares of the company's stock, valued at approximately $24,831,000. Confluent accounts for approximately 5.5% of ThornTree Capital Partners LP's portfolio, making the stock its 11th biggest holding. ThornTree Capital Partners LP owned approximately 0.31% of Confluent as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in Confluent in the 1st quarter valued at $26,000. Versant Capital Management Inc grew its position in shares of Confluent by 2,458.2% in the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock valued at $40,000 after buying an additional 1,647 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Confluent in the 1st 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 grew its position in shares of Confluent by 26.8% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $73,000 after buying an additional 661 shares during the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Trading Up 0.2%

NASDAQ:CFLT traded up $0.04 during trading hours on Friday, reaching $19.49. The company's stock had a trading volume of 1,970,260 shares, compared to its average volume of 6,679,063. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of -20.72 and a beta of 0.97. The firm has a 50-day simple moving average of $21.02 and a 200-day simple moving average of $22.91. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.98 and a current ratio of 3.98. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Confluent had a negative return on equity of 27.34% and a negative net margin of 29.27%.The firm had revenue of $282.29 million for the quarter, compared to the consensus estimate of $278.32 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The company's quarterly 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. Research analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CFLT shares. DA Davidson reduced their target price on Confluent from $32.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus reissued a "hold" rating and issued a $21.00 price objective (down from $30.00) on shares of Confluent in a research note on Thursday, July 31st. Barclays lowered their price objective on Confluent from $31.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. Stephens began coverage on Confluent in a research note on Friday, July 18th. They issued an "overweight" rating and a $31.00 price objective for the company. Finally, Royal Bank Of Canada cut their price objective on Confluent from $28.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.36.

Insider Transactions at Confluent

In other news, Director Neha Narkhede sold 153,200 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.85, for a total transaction of $3,041,020.00. Following the transaction, the director directly owned 28,549 shares of the company's stock, valued at $566,697.65. This represents a 84.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Vishria sold 30,953 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $20.00, for a total value of $619,060.00. Following the transaction, the director directly owned 1,123,447 shares in the company, valued at approximately $22,468,940. The trade was a 2.68% 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 valued at $13,595,936. 9.20% of the stock is currently owned by corporate 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.