Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 66.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,373,942 shares of the company’s stock after purchasing an additional 2,931,445 shares during the quarter. Alliancebernstein L.P. owned approximately 2.99% of Clearwater Analytics worth $202,931,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CWAN. Charles Schwab Investment Management Inc. grew its position in shares of Clearwater Analytics by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,413 shares of the company’s stock valued at $32,709,000 after buying an additional 60,948 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Clearwater Analytics by 6.4% during the third quarter. The Manufacturers Life Insurance Company now owns 79,809 shares of the company’s stock valued at $2,015,000 after purchasing an additional 4,821 shares during the last quarter. FMR LLC grew its holdings in shares of Clearwater Analytics by 171.4% during the third quarter. FMR LLC now owns 9,169 shares of the company’s stock valued at $232,000 after purchasing an additional 5,790 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Clearwater Analytics by 129.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 69,828 shares of the company’s stock worth $1,763,000 after purchasing an additional 39,343 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Clearwater Analytics by 144.1% in the 3rd quarter. MetLife Investment Management LLC now owns 86,426 shares of the company’s stock worth $2,182,000 after purchasing an additional 51,022 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Insider Activity

In other news, CRO Scott Stanley Erickson sold 4,141 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the sale, the executive now directly owns 7,902 shares of the company’s stock, valued at $218,490.30. This represents a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Subi Sethi sold 62,482 shares of Clearwater Analytics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the transaction, the insider now directly owns 144,973 shares in the company, valued at $4,359,338.11. This represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 644,510 shares of company stock worth $18,688,862. Corporate insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CWAN. UBS Group increased their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Royal Bank of Canada lifted their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $28.00 to $36.00 in a 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.80.

Clearwater Analytics Price Performance

NYSE CWAN opened at $26.83 on Tuesday. 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 $6.74 billion, a PE ratio of 16.16, a P/E/G ratio of 8.23 and a beta of 0.69. The company’s 50 day simple moving average is $28.26 and its 200 day simple moving average is $27.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

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

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.