Bank of New York Mellon Corp Increases Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Bank of New York Mellon Corp lifted its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 559,520 shares of the company’s stock after purchasing an additional 19,631 shares during the quarter. Bank of New York Mellon Corp owned about 0.23% of Clearwater Analytics worth $8,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Clearwater Analytics by 47.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,794,611 shares of the company’s stock valued at $28,480,000 after acquiring an additional 573,777 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Clearwater Analytics by 52.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,828 shares of the company’s stock valued at $173,000 after acquiring an additional 3,702 shares during the period. Virtu Financial LLC purchased a new position in Clearwater Analytics during the 2nd quarter valued at $162,000. Formula Growth Ltd. purchased a new position in Clearwater Analytics during the 1st quarter valued at $3,511,000. Finally, Prelude Capital Management LLC purchased a new position in Clearwater Analytics during the 1st quarter valued at $469,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Trading Up 0.2 %

CWAN opened at $21.21 on Friday. The stock has a fifty day moving average price of $19.41 and a 200-day moving average price of $17.49. Clearwater Analytics Holdings, Inc. has a 12 month low of $13.02 and a 12 month high of $21.77. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of -192.82 and a beta of 0.39. The company has a current ratio of 6.35, a quick ratio of 6.35 and a debt-to-equity ratio of 0.12.

Analyst Upgrades and Downgrades

CWAN has been the subject of a number of research analyst reports. Loop Capital raised Clearwater Analytics from a “hold” rating to a “buy” rating and lifted their target price for the company from $20.00 to $25.00 in a research report on Monday, September 25th. UBS Group initiated coverage on Clearwater Analytics in a research report on Tuesday, November 7th. They set a “buy” rating and a $24.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $20.00 target price on shares of Clearwater Analytics in a research report on Thursday, November 2nd. Morgan Stanley lifted their target price on Clearwater Analytics from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Finally, Wells Fargo & Company lifted their target price on Clearwater Analytics from $19.00 to $22.00 in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.86.

Insider Activity at Clearwater Analytics

In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 11,245,500 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $17.31, for a total transaction of $194,659,605.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 11,245,500 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $17.31, for a total transaction of $194,659,605.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Subi Sethi sold 9,406 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $18.21, for a total value of $171,283.26. Following the transaction, the insider now directly owns 16,599 shares in the company, valued at $302,267.79. The disclosure for this sale can be found here. Insiders have sold 15,802,739 shares of company stock valued at $274,095,376 in the last ninety days. Corporate insiders own 2.10% 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.