Geode Capital Management LLC Buys 583,219 Shares of Confluent, Inc. $CFLT

Geode Capital Management LLC boosted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 12.5% in the second quarter, Holdings Channel.com reports. The firm owned 5,235,819 shares of the company’s stock after acquiring an additional 583,219 shares during the period. Geode Capital Management LLC’s holdings in Confluent were worth $130,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. 1832 Asset Management L.P. acquired a new position in shares of Confluent during the first quarter worth about $48,547,000. Vanguard Group Inc. lifted its stake in Confluent by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 26,620,150 shares of the company’s stock valued at $623,976,000 after acquiring an additional 1,791,588 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in Confluent by 220.2% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,597,346 shares of the company’s stock worth $60,882,000 after acquiring an additional 1,786,116 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of Confluent during the 1st quarter worth approximately $39,944,000. Finally, Phoenix Financial Ltd. raised its holdings in shares of Confluent by 901.4% in the first quarter. Phoenix Financial Ltd. now owns 1,547,112 shares of the company’s stock valued at $36,269,000 after purchasing an additional 1,392,615 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In other Confluent news, CFO Rohan Sivaram sold 6,000 shares of Confluent stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $23.76, for a total transaction of $142,560.00. Following the completion of the transaction, the chief financial officer directly owned 625,596 shares of the company’s stock, valued at $14,864,160.96. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Kong Phan sold 4,544 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $19.87, for a total transaction of $90,289.28. Following the completion of the transaction, the chief accounting officer directly owned 232,534 shares in the company, valued at $4,620,450.58. The trade was a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 757,872 shares of company stock worth $15,998,727. 9.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CFLT has been the subject of several recent research reports. Capital One Financial set a $21.00 target price on shares of Confluent in a report on Thursday, July 31st. FBN Securities restated an “outperform” rating and set a $28.00 price objective on shares of Confluent in a research note on Tuesday, October 28th. TD Cowen reaffirmed a “hold” rating and issued a $24.00 target price on shares of Confluent in a research report on Thursday, July 31st. Guggenheim dropped their target price on Confluent from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Confluent in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.97.

Confluent Trading Down 0.1%

Confluent stock opened at $22.63 on Thursday. The stock has a 50-day simple moving average of $21.86 and a 200 day simple moving average of $21.97. The stock has a market capitalization of $7.92 billion, a P/E ratio of -25.14 and a beta of 0.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 4.01 and a current ratio of 4.01. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $37.90.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Monday, October 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Confluent had a negative return on equity of 25.40% and a negative net margin of 27.32%.The company had revenue of $298.52 million during the quarter, compared to analysts’ expectations of $292.69 million. During the same period last year, the firm posted $0.10 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. Confluent has set its Q4 2025 guidance at 0.090-0.100 EPS. FY 2025 guidance at 0.390-0.400 EPS. Analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

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.