1832 Asset Management L.P. Takes $48.55 Million Position in Confluent, Inc. $CFLT

1832 Asset Management L.P. acquired a new stake in Confluent, Inc. (NASDAQ:CFLT) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,071,100 shares of the company’s stock, valued at approximately $48,547,000. 1832 Asset Management L.P. owned approximately 0.61% of Confluent at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cloud Capital Management LLC purchased a new stake in shares of Confluent in the first quarter valued at approximately $26,000. Versant Capital Management Inc increased its position in shares of Confluent by 2,458.2% during the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company’s stock worth $40,000 after purchasing an additional 1,647 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 661 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Confluent by 39.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,053 shares of the company’s stock worth $95,000 after purchasing an additional 1,143 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Confluent during the fourth quarter worth approximately $153,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Confluent

In other news, CRO Ban Ryan Norris Mac sold 15,200 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.01, for a total value of $258,552.00. Following the transaction, the executive owned 397,345 shares in the company, valued at approximately $6,758,838.45. This represents a 3.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward Jay Kreps sold 37,707 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $17.04, for a total value of $642,527.28. Following the completion of the transaction, the chief executive officer owned 377,074 shares in the company, valued at approximately $6,425,340.96. The trade was a 9.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 627,117 shares of company stock worth $13,017,274 over the last quarter. 9.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CFLT has been the subject of several research reports. Raymond James Financial dropped their price target on Confluent from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Evercore ISI lowered their price objective on Confluent from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC lowered their price objective on Confluent from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. TD Securities lowered their price objective on Confluent from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group lowered their price objective on Confluent from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.36.

Confluent Stock Performance

Shares of Confluent stock opened at $17.79 on Friday. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $37.90. The business’s fifty day simple moving average is $22.44 and its 200-day simple moving average is $24.20. The firm has a market cap of $6.13 billion, a PE ratio of -18.93 and a beta of 0.96. 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 (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, beating 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 business had revenue of $282.29 million for the quarter, compared to analyst estimates of $278.32 million. During the same quarter in the prior year, the company posted $0.06 EPS. 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. Equities analysts forecast 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.