Harvest Fund Management Co. Ltd Makes New $116,000 Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Harvest Fund Management Co. Ltd purchased a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,213 shares of the company’s stock, valued at approximately $116,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CWAN. Champlain Investment Partners LLC acquired a new stake in shares of Clearwater Analytics in the third quarter worth about $53,559,000. Principal Financial Group Inc. lifted its position in shares of Clearwater Analytics by 1,600.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock worth $39,690,000 after buying an additional 1,357,425 shares during the last quarter. State Street Corp lifted its position in shares of Clearwater Analytics by 38.7% in the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after buying an additional 1,009,548 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Clearwater Analytics by 189.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after buying an additional 830,684 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Clearwater Analytics in the fourth quarter worth about $20,482,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Royal Bank of Canada boosted their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $28.00 to $36.00 in a research report on Thursday, February 20th. Morgan Stanley reissued an “overweight” rating and set a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Finally, UBS Group boosted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Trading Down 0.6 %

Shares of CWAN opened at $26.52 on Friday. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 8.23 and a beta of 0.69. The stock’s 50-day moving average price is $28.26 and its 200 day moving average price is $27.80. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data 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). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. As a group, research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Activity

In other news, CEO Sandeep Sahai sold 218,687 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $6,575,918.09. Following the transaction, the chief executive officer now directly owns 681,588 shares of the company’s stock, valued at $20,495,351.16. The trade was a 24.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 4,141 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.65, for a total value of $114,498.65. Following the completion of the transaction, the executive now directly owns 7,902 shares in the company, valued at $218,490.30. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 644,510 shares of company stock worth $18,688,862. Company insiders own 4.60% of the company’s stock.

Clearwater Analytics Profile

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.