Greenhouse Funds LLLP Raises Stock Position in Confluent, Inc. $CFLT

by · The Cerbat Gem

Greenhouse Funds LLLP raised its holdings in shares of Confluent, Inc. (NASDAQ:CFLT – Free Report) by 23.1% during the second quarter, Holdings Channel.com reports. The fund owned 3,097,695 shares of the company’s stock after buying an additional 581,357 shares during the period. Confluent accounts for approximately 3.2% of Greenhouse Funds LLLP’s portfolio, making the stock its 13th largest position. Greenhouse Funds LLLP’s holdings in Confluent were worth $77,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CFLT. Farther Finance Advisors LLC raised its stake in Confluent by 252.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company’s stock valued at $36,000 after purchasing an additional 1,037 shares during the period. Banque Transatlantique SA purchased a new stake in Confluent during the 1st quarter valued at approximately $43,000. Elevation Point Wealth Partners LLC purchased a new stake in Confluent during the 2nd quarter valued at approximately $49,000. SVB Wealth LLC bought a new stake in shares of Confluent during the first quarter valued at approximately $54,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Confluent in the second quarter worth $67,000. Institutional investors own 78.09% of the company’s stock.

Confluent Price Performance

CFLT stock opened at $23.06 on Wednesday. The stock has a market cap of $8.07 billion, a PE ratio of -25.62 and a beta of 0.99. Confluent, Inc. has a 12 month low of $15.64 and a 12 month high of $37.90. The company has a 50-day moving average price of $22.21 and a 200 day moving average price of $21.99. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 0.98.

Confluent (NASDAQ:CFLT – Get Free Report) last announced its quarterly earnings data on Monday, October 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Confluent had a negative net margin of 27.32% and a negative return on equity of 25.40%. The business had revenue of $298.52 million during the quarter, compared to the consensus estimate of $292.69 million. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. Confluent has set its Q4 2025 guidance at 0.090-0.100 EPS and its FY 2025 guidance at 0.390-0.400 EPS. Equities research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CFLT. Robert W. Baird lifted their price target on shares of Confluent from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Mizuho raised their price objective on Confluent from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. FBN Securities reiterated an “outperform” rating and issued a $28.00 target price on shares of Confluent in a research report on Tuesday, October 28th. Barclays increased their price target on Confluent from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Finally, Morgan Stanley lifted their price objective on Confluent from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.97.

Check Out Our Latest Analysis on CFLT

Insider Activity at Confluent

In other Confluent news, Director Eric Vishria sold 30,953 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $23.64, for a total value of $731,728.92. Following the transaction, the director owned 1,092,494 shares of the company’s stock, valued at $25,826,558.16. This represents a 2.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $18.66, for a total value of $4,338,450.00. Following the sale, the chief executive officer owned 377,074 shares of the company’s stock, valued at approximately $7,036,200.84. This trade represents a 38.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 808,186 shares of company stock worth $17,197,298 over the last quarter. 13.82% of the stock is owned by insiders.

About Confluent

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CFLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Confluent, Inc. (NASDAQ:CFLT – Free Report).