Sheets Smith Investment Management Takes $1.36 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Sheets Smith Investment Management bought a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 49,368 shares of the company’s stock, valued at approximately $1,359,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after buying an additional 468 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Clearwater Analytics in the fourth quarter valued at approximately $57,000. R Squared Ltd bought a new stake in shares of Clearwater Analytics in the fourth quarter valued at approximately $80,000. Nisa Investment Advisors LLC boosted its stake in shares of Clearwater Analytics by 174.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock valued at $86,000 after buying an additional 1,987 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Clearwater Analytics in the fourth quarter valued at approximately $88,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $26.52 on Monday. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.62 and a twelve month high of $35.71. The stock has a fifty day simple moving average of $28.26 and a 200 day simple moving average of $27.82. 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 posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. Sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, insider Subi Sethi sold 62,482 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the sale, the insider now directly owns 144,973 shares in the company, valued at approximately $4,359,338.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sandeep Sahai sold 218,687 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 681,588 shares of the company’s stock, valued at approximately $20,495,351.16. The trade was a 24.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock worth $18,688,862 over the last three months. Company insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CWAN. Morgan Stanley restated an “overweight” rating and set a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Oppenheimer upped their target price on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upped their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. Finally, DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their target price for the stock from $35.00 to $32.00 in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.80.

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.