VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $768,000 Investment in Confluent, Inc. $CFLT

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,800 shares of the company's stock, valued at approximately $768,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CFLT. GAMMA Investing LLC raised its position in Confluent by 26.8% during the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $73,000 after acquiring an additional 661 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Confluent by 1.5% during the first quarter. Oppenheimer & Co. Inc. now owns 92,432 shares of the company's stock worth $2,167,000 after acquiring an additional 1,370 shares during the last quarter. Bessemer Group Inc. raised its position in Confluent by 12.5% during the first quarter. Bessemer Group Inc. now owns 62,830 shares of the company's stock worth $1,473,000 after acquiring an additional 6,970 shares during the last quarter. Diversified Trust Co raised its position in Confluent by 7.7% during the first quarter. Diversified Trust Co now owns 79,173 shares of the company's stock worth $1,856,000 after acquiring an additional 5,644 shares during the last quarter. Finally, Amalgamated Bank raised its position in Confluent by 3.4% during the first quarter. Amalgamated Bank now owns 16,995 shares of the company's stock worth $398,000 after acquiring an additional 566 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CFLT shares. Needham & Company LLC cut their target price on shares of Confluent from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Barclays lowered their price target on shares of Confluent from $31.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Capital One Financial set a $21.00 price target on shares of Confluent in a report on Thursday, July 31st. Oppenheimer lowered their price target on shares of Confluent from $32.00 to $26.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Finally, Royal Bank Of Canada lowered their price target on shares of Confluent from $28.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.22.

Confluent Price Performance

Confluent stock opened at $22.80 on Friday. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $37.90. The firm has a 50 day moving average price of $20.27 and a 200 day moving average price of $21.80. The company has a market cap of $7.86 billion, a price-to-earnings ratio of -24.26 and a beta of 0.96. 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 (NASDAQ:CFLT - Get Free Report) last released 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. 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 the consensus estimate of $278.32 million. During the same period in the previous year, the firm earned $0.06 earnings per share. Confluent's revenue 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. Sell-side analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insider Transactions at Confluent

In related news, CAO Kong Phan sold 4,544 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $19.87, for a total value of $90,289.28. Following the completion of the sale, the chief accounting officer directly owned 232,534 shares in the company, valued at approximately $4,620,450.58. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rohan Sivaram sold 5,000 shares of the business's stock in a transaction that occurred 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 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. Insiders sold 741,584 shares of company stock valued at $13,597,695 in the last quarter. Insiders own 9.20% of the company's stock.

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.

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