Bank of New York Mellon Corp Sells 11,358 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Bank of New York Mellon Corp decreased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,028,830 shares of the company’s stock after selling 11,358 shares during the quarter. Bank of New York Mellon Corp owned about 0.41% of Clearwater Analytics worth $27,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Huntleigh Advisors Inc. boosted its position in Clearwater Analytics by 1.9% during the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company’s stock valued at $863,000 after buying an additional 595 shares during the period. Abacus FCF Advisors LLC raised its stake in Clearwater Analytics by 2.8% in the first quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company’s stock worth $674,000 after buying an additional 682 shares in the last quarter. Summit Creek Advisors LLC raised its stake in Clearwater Analytics by 0.3% in the fourth quarter. Summit Creek Advisors LLC now owns 285,045 shares of the company’s stock worth $7,844,000 after buying an additional 833 shares in the last quarter. Bullseye Asset Management LLC increased its stake in shares of Clearwater Analytics by 1.1% during the fourth quarter. Bullseye Asset Management LLC now owns 112,181 shares of the company’s stock valued at $3,087,000 after purchasing an additional 1,181 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Clearwater Analytics by 5.3% during the fourth quarter. Prudential Financial Inc. now owns 25,960 shares of the company’s stock valued at $792,000 after purchasing an additional 1,312 shares in the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Subi Sethi sold 7,358 shares of the firm’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $159,447.86. Following the completion of the sale, the insider directly owned 218,788 shares in the company, valued at approximately $4,741,135.96. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $298,920.44. Following the sale, the director owned 14,498 shares of the company’s stock, valued at approximately $343,022.68. The trade was a 46.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,107 shares of company stock valued at $5,844,208. 3.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Oppenheimer dropped their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, June 11th. Wells Fargo & Company decreased their price objective on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the company an “overweight” rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They issued an “overweight” rating and a $28.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Clearwater Analytics in a research note on Monday, May 19th. They issued a “neutral” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics presently has an average rating of “Moderate Buy” and a consensus target price of $31.90.

Clearwater Analytics Stock Up 0.6%

CWAN stock opened at $22.19 on Thursday. Clearwater Analytics Holdings, Inc. has a one year low of $19.18 and a one year high of $35.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.09 and a current ratio of 5.09. The firm’s fifty day moving average is $22.68 and its 200 day moving average is $25.20. The firm has a market cap of $6.29 billion, a PE ratio of 13.21, a P/E/G ratio of 4.41 and a beta of 0.74.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The company’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 earnings per share. On average, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics 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.