Confluent (NASDAQ:CFLT) CEO Edward Jay Kreps Sells 232,500 Shares

Key Points

• Confluent CEO Edward Jay Kreps sold 232,500 shares of stock on September 4th for a total of $4,338,450, reducing his ownership by 38.14% to 377,074 shares.
• The company's quarterly earnings revealed a profit of $0.09 EPS, slightly exceeding analysts' expectations, with a year-over-year revenue increase of 20.1% to $282.29 million.
• Multiple analysts have adjusted their target prices for Confluent, with Wells Fargo lowering its estimate from $30 to $27, reflecting a cautious outlook despite positive earnings news.

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CEO Edward Jay Kreps sold 232,500 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $18.66, for a total value of $4,338,450.00. Following the completion of the sale, the chief executive officer owned 377,074 shares in the company, valued at $7,036,200.84. The trade was a 38.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Edward Jay Kreps also recently made the following trade(s):

• On Wednesday, August 20th, Edward Jay Kreps sold 37,707 shares of Confluent stock. The shares were sold at an average price of $17.04, for a total transaction of $642,527.28.
• On Thursday, August 14th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The shares were sold at an average price of $17.18, for a total transaction of $3,994,350.00.

Confluent Stock Performance

Shares of NASDAQ CFLT traded down $0.21 during midday trading on Friday, reaching $19.24. 4,624,908 shares of the company traded hands, compared to its average volume of 7,690,733. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $37.90. The stock has a 50-day moving average price of $20.87 and a 200 day moving average price of $22.78. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.98 and a quick ratio of 3.98. The company has a market cap of $6.63 billion, a price-to-earnings ratio of -20.47 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, 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 business had revenue of $282.29 million for the quarter, compared to analysts' expectations of $278.32 million. During the same period in the previous year, the business earned $0.06 earnings per share. The company'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. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CFLT shares. Zacks Research upgraded shares of Confluent from a "strong sell" rating to a "hold" rating in a research note on Monday, September 1st. Stifel Nicolaus reiterated a "hold" rating and issued a $21.00 price target (down from $30.00) on shares of Confluent in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their price target on shares of Confluent from $28.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Barclays dropped their price target on shares of Confluent from $31.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Finally, Capital One Financial set a $21.00 price target on shares of Confluent in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.36.

Hedge Funds Weigh In On Confluent

A number of institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its stake in Confluent by 22.4% in the 2nd quarter. Osaic Holdings Inc. now owns 32,590 shares of the company's stock worth $810,000 after purchasing an additional 5,970 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in Confluent in the 2nd quarter worth about $305,000. Marex Group plc purchased a new position in Confluent in the 2nd quarter worth about $298,000. State of Wyoming increased its stake in Confluent by 155.6% in the 2nd quarter. State of Wyoming now owns 17,759 shares of the company's stock worth $443,000 after purchasing an additional 10,811 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Confluent in the 2nd quarter worth about $245,000. Hedge funds and other institutional investors own 78.09% of the company's stock.

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.