Envestnet Asset Management Inc. Reduces Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Envestnet Asset Management Inc. cut its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 14.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 366,188 shares of the company’s stock after selling 61,086 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of Clearwater Analytics worth $9,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock worth $163,867,000 after buying an additional 2,950,555 shares during the period. Alliancebernstein L.P. lifted its holdings in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock worth $202,931,000 after buying an additional 2,931,445 shares during the period. Vanguard Group Inc. lifted its holdings in Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after buying an additional 2,455,844 shares during the period. Norges Bank purchased a new stake in Clearwater Analytics in the 4th quarter worth approximately $59,402,000. Finally, Blair William & Co. IL lifted its holdings in Clearwater Analytics by 3,835.2% in the 4th quarter. Blair William & Co. IL now owns 1,754,732 shares of the company’s stock worth $48,290,000 after buying an additional 1,710,141 shares during the period. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Down 1.0%

CWAN stock opened at $21.50 on Monday. Clearwater Analytics Holdings, Inc. has a twelve month low of $19.46 and a twelve month high of $35.71. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.04. The firm has a market cap of $6.09 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 4.30 and a beta of 0.74. The business has a 50 day moving average of $22.61 and a 200 day moving average of $25.09.

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

Insider Buying and Selling

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the sale, the chief executive officer directly owned 895,663 shares in the company, valued at approximately $19,838,935.45. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Subi Sethi sold 7,358 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $21.67, for a total value of $159,447.86. Following the sale, the insider owned 218,788 shares in the company, valued at approximately $4,741,135.96. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,107 shares of company stock worth $5,844,208 in the last 90 days. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analyst Weigh In

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

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.