Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 12.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,358 shares of the company’s stock after selling 10,921 shares during the quarter. NewEdge Wealth LLC’s holdings in Clearwater Analytics were worth $2,074,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Champlain Investment Partners LLC acquired a new stake in Clearwater Analytics during the 3rd quarter worth $53,559,000. Principal Financial Group Inc. boosted its stake in shares of Clearwater Analytics by 1,600.9% during 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 period. State Street Corp grew its holdings in shares of Clearwater Analytics by 38.7% during 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 increased its position in Clearwater Analytics by 189.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock valued at $34,926,000 after acquiring an additional 830,684 shares during the period. Finally, Wasatch Advisors LP raised its stake in Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after acquiring an additional 559,564 shares during the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CRO Scott Stanley Erickson sold 76,256 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the completion of the transaction, the executive now directly owns 78,363 shares in the company, valued at $2,356,375.41. The trade was a 49.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Souvik Das sold 76,844 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $2,310,699.08. Following the completion of the sale, the chief technology officer now directly owns 68,902 shares in the company, valued at approximately $2,071,883.14. The trade was a 52.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 733,431 shares of company stock worth $21,444,493. 4.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CWAN has been the topic of several analyst reports. UBS Group lifted their target price on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $35.00 to $32.00 in a research note on Tuesday, January 14th. Finally, Oppenheimer boosted their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Stock Up 4.4 %

Shares of NYSE CWAN opened at $31.13 on Friday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 8.23 and a beta of 0.72. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71. The firm has a 50-day moving average price of $28.20 and a 200 day moving average price of $27.39. 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 results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 93.97% and a return on equity of 7.11%. Equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics Company 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.