US Bancorp DE Increases Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

US Bancorp DE raised its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 35.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,354 shares of the company’s stock after purchasing an additional 4,836 shares during the period. US Bancorp DE’s holdings in Clearwater Analytics were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CWAN. Nvwm LLC acquired a new stake in shares of Clearwater Analytics during the first quarter worth about $46,000. CWM LLC lifted its holdings in shares of Clearwater Analytics by 714.6% during the first quarter. CWM LLC now owns 3,071 shares of the company’s stock worth $82,000 after purchasing an additional 2,694 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Clearwater Analytics during the fourth quarter worth about $121,000. Portside Wealth Group LLC acquired a new stake in shares of Clearwater Analytics during the first quarter worth about $206,000. Finally, Norden Group LLC acquired a new stake in shares of Clearwater Analytics during the first quarter worth about $232,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the sale, the chief executive officer directly owned 895,663 shares of the company’s stock, valued at $19,838,935.45. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Subi Sethi sold 7,358 shares of Clearwater Analytics stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $159,447.86. Following the transaction, the insider directly owned 218,788 shares of the company’s stock, 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. Over the last ninety days, insiders sold 208,107 shares of company stock worth $4,629,708. Corporate insiders own 3.31% of the company’s stock.

Clearwater Analytics Trading Up 2.5%

CWAN opened at $18.92 on Wednesday. Clearwater Analytics Holdings, Inc. has a one year low of $17.98 and a one year high of $35.71. The company has a market cap of $5.36 billion, a P/E ratio of 11.90, a PEG ratio of 3.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. The business’s 50-day simple moving average is $21.73 and its 200-day simple moving average is $24.28.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%. The firm had revenue of $181.94 million for the quarter, compared to analysts’ expectations of $174.16 million. During the same quarter in the prior year, the business earned $0.10 EPS. The company’s quarterly revenue was up 70.4% compared to the same quarter last year. As a group, equities research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CWAN has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group raised Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the company an “overweight” rating in a report on Tuesday, June 24th. Oppenheimer reduced their target price on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, June 11th. Finally, DA Davidson reduced their target price on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.20.

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.