Confluent, Inc. $CFLT Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC significantly reduced its holdings in Confluent, Inc. by 69.6%, leaving them with a stock position valued at $248,000.
• Confluent reported a 20.1% increase in quarterly revenue year-over-year, reaching $282.29 million, and beat earnings estimates by $0.01.
• Wall Street analysts have lowered their target prices for Confluent, with a consensus rating of "Moderate Buy" and a price target averaging $27.36.

Vident Advisory LLC lessened its stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 69.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,582 shares of the company's stock after selling 24,179 shares during the quarter. Vident Advisory LLC's holdings in Confluent were worth $248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CFLT. 1832 Asset Management L.P. purchased a new position in Confluent in the 1st quarter worth approximately $48,547,000. Vanguard Group Inc. boosted its holdings in Confluent by 7.2% in the 1st 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 period. Driehaus Capital Management LLC purchased a new position in Confluent in the 1st quarter worth approximately $39,944,000. Phoenix Financial Ltd. boosted its holdings in Confluent by 901.4% in the 1st quarter. Phoenix Financial Ltd. now owns 1,547,112 shares of the company's stock worth $36,269,000 after acquiring an additional 1,392,615 shares during the period. Finally, Nuveen LLC purchased a new position in Confluent in the 1st quarter worth approximately $28,791,000. Hedge funds and other institutional investors own 78.09% of the company's stock.

Insider Activity

In other Confluent news, CFO Rohan Sivaram sold 5,000 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the sale, the chief financial officer owned 631,596 shares in the company, valued at $12,631,920. The trade was a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Neha Narkhede sold 153,200 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.85, for a total transaction of $3,041,020.00. Following the sale, the director owned 28,549 shares of the company's stock, valued at approximately $566,697.65. The trade was a 84.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 740,621 shares of company stock valued at $13,595,936 over the last quarter. 13.82% of the stock is owned by company insiders.

Confluent Stock Performance

CFLT stock traded up $0.51 during trading on Monday, hitting $19.75. 7,536,841 shares of the company's stock traded hands, compared to its average volume of 7,401,413. 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, Inc. has a 52 week low of $15.64 and a 52 week high of $37.90. The stock has a fifty day moving average price of $20.75 and a two-hundred day moving average price of $22.63. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of -21.01 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 firm had revenue of $282.29 million during the quarter, compared to analyst estimates of $278.32 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm's revenue for the quarter was up 20.1% compared to the same quarter last year. Confluent has set its Q3 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.360-0.360 EPS. As a group, equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CFLT. Royal Bank Of Canada decreased their price target on Confluent from $28.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Capital One Financial set a $21.00 target price on Confluent in a research note on Thursday, July 31st. 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. Citigroup reduced their target price on Confluent from $30.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Finally, Oppenheimer reduced their target price on Confluent from $32.00 to $26.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Two 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 given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $27.36.

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.