HighTower Advisors LLC Sells 8,545 Shares of Clearwater Analytics Holdings, Inc. $CWAN

HighTower Advisors LLC reduced its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,014 shares of the company’s stock after selling 8,545 shares during the quarter. HighTower Advisors LLC’s holdings in Clearwater Analytics were worth $2,386,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock worth $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Invesco Ltd. increased its stake in Clearwater Analytics by 34.1% in the 1st quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock worth $152,930,000 after acquiring an additional 1,452,474 shares during the last quarter. Blair William & Co. IL increased its stake in Clearwater Analytics by 44.4% in the 1st 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. Fred Alger Management LLC increased its stake in Clearwater Analytics by 16.9% in the 4th quarter. Fred Alger Management LLC now owns 2,469,228 shares of the company’s stock worth $67,953,000 after acquiring an additional 357,086 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Clearwater Analytics by 13.8% in the 4th quarter. Driehaus Capital Management LLC now owns 2,214,452 shares of the company’s stock worth $60,942,000 after acquiring an additional 268,601 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Clearwater Analytics news, CTO Souvik Das sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the chief technology officer owned 132,549 shares in the company, valued at approximately $2,650,980. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 3,038 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $20.01, for a total value of $60,790.38. Following the completion of the sale, the chief executive officer owned 895,663 shares of the company’s stock, valued at approximately $17,922,216.63. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,786 shares of company stock worth $4,810,539. Corporate insiders own 3.31% of the company’s stock.

Clearwater Analytics Trading Up 6.3%

Shares of CWAN stock opened at $20.8390 on Friday. The stock has a market capitalization of $6.09 billion, a PE ratio of 13.11, a P/E/G ratio of 4.61 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.98 and a 1-year high of $35.71. The business has a 50-day moving average of $21.13 and a 200 day moving average of $23.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company 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 was up 70.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday, August 11th. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an “overweight” rating in a report on Tuesday, June 24th. Oppenheimer cut their price objective on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, June 11th. 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. Finally, DA Davidson cut their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.67.

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.