GAMMA Investing LLC Has $944,000 Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

GAMMA Investing LLC lifted its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 2,644.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,242 shares of the company’s stock after acquiring an additional 33,958 shares during the period. GAMMA Investing LLC’s holdings in Clearwater Analytics were worth $944,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of Clearwater Analytics by 1,600.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock worth $39,690,000 after acquiring an additional 1,357,425 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Clearwater Analytics in the 4th quarter worth $8,580,000. Alliancebernstein L.P. grew its position in Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after buying an additional 2,931,445 shares during the period. KLP Kapitalforvaltning AS bought a new position in Clearwater Analytics during the fourth quarter valued at about $1,112,000. Finally, Bank of New York Mellon Corp grew its position in Clearwater Analytics by 46.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,040,188 shares of the company’s stock valued at $28,626,000 after buying an additional 328,542 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley reaffirmed 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. Royal Bank of Canada raised their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company lowered their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group raised their target price 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Buying and Selling

In other news, Director Kathleen A. Corbet sold 12,634 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total value of $298,920.44. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at $343,022.68. This trade represents a 46.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $23.09, for a total value of $1,154,500.00. Following the transaction, the chief executive officer now owns 876,754 shares of the company’s stock, valued at approximately $20,244,249.86. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,334 shares of company stock worth $4,213,699 in the last three months. 3.31% of the stock is owned by insiders.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $22.15 on Tuesday. The company has a market cap of $6.28 billion, a P/E ratio of 13.35, a P/E/G ratio of 8.23 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The business’s 50 day moving average price is $23.04 and its 200-day moving average price is $26.24. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.63 and a fifty-two week high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company had revenue of $126.86 million for the quarter, compared to the consensus estimate of $125.11 million. During the same quarter in the prior year, the company posted $0.10 EPS. Clearwater Analytics’s quarterly revenue was up 23.5% on a year-over-year basis. Sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

About Clearwater Analytics

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.