Wellington Management Group LLP Buys 565,190 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Wellington Management Group LLP grew its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 31.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,359,818 shares of the company’s stock after purchasing an additional 565,190 shares during the quarter. Wellington Management Group LLP’s holdings in Clearwater Analytics were worth $37,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CWAN. Durable Capital Partners LP grew its position in shares of Clearwater Analytics by 11.3% during the 1st quarter. Durable Capital Partners LP now owns 8,945,959 shares of the company’s stock valued at $187,865,000 after acquiring an additional 908,588 shares during the period. Conestoga Capital Advisors LLC grew its holdings in Clearwater Analytics by 70.9% in the first quarter. Conestoga Capital Advisors LLC now owns 6,220,071 shares of the company’s stock valued at $99,272,000 after purchasing an additional 2,581,501 shares during the period. JPMorgan Chase & Co. grew its holdings in Clearwater Analytics by 3.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,468,384 shares of the company’s stock valued at $83,783,000 after purchasing an additional 168,319 shares during the period. Wasatch Advisors Inc. grew its holdings in Clearwater Analytics by 5.8% in the first quarter. Wasatch Advisors Inc. now owns 3,240,235 shares of the company’s stock valued at $68,045,000 after purchasing an additional 178,068 shares during the period. Finally, Artisan Partners Limited Partnership grew its holdings in Clearwater Analytics by 178.9% in the first quarter. Artisan Partners Limited Partnership now owns 2,805,004 shares of the company’s stock valued at $44,768,000 after purchasing an additional 1,799,271 shares during the period. 50.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Clearwater Analytics news, insider Subi Sethi sold 9,406 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $18.21, for a total transaction of $171,283.26. Following the completion of the sale, the insider now owns 16,599 shares of the company’s stock, valued at $302,267.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Xii Carbon Analytics Acqu Wcas sold 10,000,000 shares of Clearwater Analytics stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $15.95, for a total value of $159,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Subi Sethi sold 9,406 shares of Clearwater Analytics stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $18.21, for a total value of $171,283.26. Following the completion of the sale, the insider now directly owns 16,599 shares of the company’s stock, valued at $302,267.79. The disclosure for this sale can be found here. Insiders sold a total of 10,081,431 shares of company stock valued at $160,944,468 over the last quarter. 2.10% of the stock is owned by insiders.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock opened at $19.41 on Friday. Clearwater Analytics Holdings, Inc. has a one year low of $13.02 and a one year high of $20.00. The company has a market cap of $4.69 billion, a price-to-earnings ratio of -176.41 and a beta of 0.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.29 and a current ratio of 6.29. The business’s 50 day moving average price is $17.04 and its 200 day moving average price is $16.24.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Clearwater Analytics had a positive return on equity of 0.24% and a negative net margin of 6.35%. The firm had revenue of $89.88 million for the quarter, compared to the consensus estimate of $87.59 million. On average, research analysts predict that Clearwater Analytics Holdings, Inc. will post -0.05 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. The Goldman Sachs Group raised their price objective on Clearwater Analytics from $14.00 to $16.00 and gave the company a “sell” rating in a report on Thursday, August 3rd. Morgan Stanley raised their price objective on Clearwater Analytics from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Finally, Piper Sandler restated a “neutral” rating and issued a $17.00 target price on shares of Clearwater Analytics in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.05.

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.