Principal Financial Group Inc. Buys 293,366 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Principal Financial Group Inc. increased its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWANFree Report) by 280.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 397,941 shares of the company’s stock after buying an additional 293,366 shares during the period. Principal Financial Group Inc. owned 0.16% of Clearwater Analytics worth $7,971,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. NBC Securities Inc. acquired a new position in shares of Clearwater Analytics in the third quarter valued at approximately $453,000. Arizona State Retirement System increased its position in Clearwater Analytics by 24.6% during the 3rd quarter. Arizona State Retirement System now owns 22,402 shares of the company’s stock worth $433,000 after buying an additional 4,416 shares during the period. Jump Financial LLC acquired a new stake in shares of Clearwater Analytics during the third quarter worth $1,779,000. Equitable Trust Co. acquired a new position in shares of Clearwater Analytics in the third quarter valued at about $396,000. Finally, New York State Common Retirement Fund increased its position in Clearwater Analytics by 27.3% during the third quarter. New York State Common Retirement Fund now owns 901,012 shares of the company’s stock worth $17,426,000 after acquiring an additional 193,204 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

Shares of CWAN stock opened at $19.10 on Tuesday. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.28 and a twelve month high of $21.89. The company has a market cap of $4.69 billion, a P/E ratio of -238.75, a P/E/G ratio of 7.46 and a beta of 0.50. The business has a fifty day simple moving average of $17.42 and a 200 day simple moving average of $18.67.

Clearwater Analytics (NYSE:CWANGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The business had revenue of $102.70 million during the quarter, compared to the consensus estimate of $100.55 million. During the same period in the prior year, the company earned $0.07 EPS. Clearwater Analytics’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

CWAN has been the topic of a number of analyst reports. DA Davidson restated a “buy” rating and set a $24.00 target price on shares of Clearwater Analytics in a research report on Monday, February 5th. Piper Sandler restated a “neutral” rating and set a $20.00 price objective on shares of Clearwater Analytics in a research note on Thursday, February 29th. JPMorgan Chase & Co. dropped their price objective on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Morgan Stanley reissued an “equal weight” rating and set a $19.00 target price on shares of Clearwater Analytics in a report on Thursday, May 2nd. Finally, Wells Fargo & Company dropped their price target on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.70.

Read Our Latest Report on CWAN

Insider Buying and Selling

In related news, insider Subi Sethi sold 18,599 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $19.46, for a total transaction of $361,936.54. Following the completion of the sale, the insider now directly owns 77,519 shares in the company, valued at approximately $1,508,519.74. The sale was disclosed in a filing with the SEC, which is available through this link. In other Clearwater Analytics news, insider Subi Sethi sold 18,599 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $19.46, for a total value of $361,936.54. Following the completion of the transaction, the insider now directly owns 77,519 shares in the company, valued at $1,508,519.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The disclosure for this sale can be found here. Insiders sold a total of 16,268,600 shares of company stock worth $274,986,956 in the last ninety days. 2.10% of the stock is owned by insiders.

About Clearwater Analytics

(Free Report)

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.

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Institutional Ownership by Quarter for Clearwater Analytics (NYSE:CWAN)

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