Burkehill Global Management LP Purchases Shares of 300,000 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Burkehill Global Management LP acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 300,000 shares of the company’s stock, valued at approximately $8,256,000.

Several other large investors have also recently modified their holdings of CWAN. Principal Financial Group Inc. boosted its stake in Clearwater Analytics by 348.3% in the third quarter. Principal Financial Group Inc. now owns 84,793 shares of the company’s stock valued at $2,141,000 after acquiring an additional 65,878 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of Clearwater Analytics by 5.7% during the 3rd quarter. Atria Investments Inc now owns 36,653 shares of the company’s stock valued at $925,000 after purchasing an additional 1,971 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Clearwater Analytics in the 3rd quarter worth $360,000. Chartwell Investment Partners LLC grew its stake in Clearwater Analytics by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock worth $1,233,000 after buying an additional 395 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Clearwater Analytics during the 3rd quarter valued at about $523,000. Institutional investors own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CWAN. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. UBS Group boosted their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Finally, Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.80.

Clearwater Analytics Stock Up 0.1 %

CWAN stock opened at $27.56 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The firm’s fifty day simple moving average is $28.35 and its 200-day simple moving average is $27.69. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $35.71. The company has a market capitalization of $6.92 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. As a group, equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Scott Stanley Erickson sold 4,141 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.65, for a total transaction of $114,498.65. Following the sale, the executive now directly owns 7,902 shares of the company’s stock, valued at approximately $218,490.30. This represents a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the sale, the chief executive officer now owns 615,855 shares in the company, valued at approximately $15,944,485.95. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 594,510 shares of company stock valued at $17,418,271 over the last ninety days. Company insiders own 4.60% of the company’s stock.

About Clearwater Analytics

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.