Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,246,312 shares of the company’s stock after acquiring an additional 2,366,715 shares during the period. Vanguard Group Inc. owned approximately 9.26% of Clearwater Analytics worth $623,001,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Evolutionary Tree Capital Management LLC acquired a new stake in shares of Clearwater Analytics in the first quarter worth approximately $2,266,000. Blair William & Co. IL boosted its position in shares of Clearwater Analytics by 44.4% in the first quarter. Blair William & Co. IL now owns 2,534,270 shares of the company’s stock worth $67,918,000 after acquiring an additional 779,538 shares during the last quarter. Malaga Cove Capital LLC boosted its position in shares of Clearwater Analytics by 3.8% in the first quarter. Malaga Cove Capital LLC now owns 24,643 shares of the company’s stock worth $660,000 after acquiring an additional 900 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Clearwater Analytics by 348.4% in the first quarter. PNC Financial Services Group Inc. now owns 12,341 shares of the company’s stock worth $331,000 after acquiring an additional 9,589 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Clearwater Analytics by 35.8% in the first quarter. US Bancorp DE now owns 18,354 shares of the company’s stock worth $492,000 after acquiring an additional 4,836 shares during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 4,460 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $96,648.20. Following the completion of the sale, the executive owned 15,776 shares of the company’s stock, valued at approximately $341,865.92. This trade represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Souvik Das sold 5,273 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $21.67, for a total transaction of $114,265.91. Following the sale, the chief technology officer directly owned 142,549 shares of the company’s stock, valued at $3,089,036.83. The trade was a 3.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,107 shares of company stock valued at $4,629,708. 3.31% of the stock is currently owned by corporate insiders.

Clearwater Analytics Trading Up 3.5%

CWAN opened at $19.62 on Thursday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 12.34, a P/E/G ratio of 3.79 and a beta of 0.73. The firm’s 50 day moving average is $21.66 and its 200-day moving average is $24.24. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.98 and a 52-week high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data 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). The firm had revenue of $181.94 million for the quarter, compared to analysts’ expectations of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The company’s revenue for the quarter was up 70.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. Analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CWAN shares. DA Davidson decreased their target price on shares of Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They issued an “overweight” rating and a $28.00 price target on the stock. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday. Wells Fargo & Company cut their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, 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. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently 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.