AlphaQuest LLC Buys 13,211 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

AlphaQuest LLC boosted its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 700.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,097 shares of the company’s stock after purchasing an additional 13,211 shares during the quarter. AlphaQuest LLC’s holdings in Clearwater Analytics were worth $415,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Champlain Investment Partners LLC purchased a new position in shares of Clearwater Analytics in the 3rd quarter worth approximately $53,559,000. Principal Financial Group Inc. grew its holdings in 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 purchasing an additional 1,357,425 shares during the last quarter. State Street Corp increased its position 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 purchasing an additional 1,009,548 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of Clearwater Analytics by 189.5% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after purchasing an additional 830,684 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Clearwater Analytics during the 4th quarter valued at $20,482,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $26.39 on Friday. The stock has a market cap of $6.62 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $35.71. The business has a 50-day simple moving average of $28.35 and a 200-day simple moving average of $27.69. 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 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. On average, equities analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Wells Fargo & Company upped their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. UBS Group upped their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Oppenheimer lifted their price objective 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 investment 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 has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Insiders Place Their Bets

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the completion of the transaction, the chief executive officer now owns 615,855 shares of the company’s stock, valued at $15,944,485.95. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Souvik Das sold 76,844 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 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 $2,071,883.14. This represents a 52.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 594,510 shares of company stock worth $17,418,271. Company insiders own 4.60% of the company’s stock.

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.