Barbara Oil Co. Buys 34,640 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Barbara Oil Co. grew its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 91.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,370 shares of the company’s stock after purchasing an additional 34,640 shares during the quarter. Barbara Oil Co.’s holdings in Clearwater Analytics were worth $1,587,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CWAN. First Horizon Advisors Inc. raised its holdings in Clearwater Analytics by 278.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock valued at $33,000 after acquiring an additional 1,121 shares during the period. Bessemer Group Inc. increased its stake in shares of Clearwater Analytics by 84.6% during the second quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock worth $35,000 after purchasing an additional 708 shares during the period. Quarry LP lifted its holdings in Clearwater Analytics by 979.4% during the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock worth $56,000 after purchasing an additional 1,900 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Clearwater Analytics by 36.7% during the second quarter. Nisa Investment Advisors LLC now owns 4,288 shares of the company’s stock worth $94,000 after buying an additional 1,151 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Clearwater Analytics in the second quarter valued at about $108,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Insider Activity at Clearwater Analytics

In related news, insider Subi Sethi sold 7,434 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $131,433.12. Following the sale, the insider owned 226,980 shares of the company’s stock, valued at approximately $4,013,006.40. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Scott Stanley Erickson sold 4,505 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $79,648.40. Following the transaction, the executive directly owned 19,552 shares of the company’s stock, valued at approximately $345,679.36. This trade represents a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,302 shares of company stock worth $2,207,626 over the last 90 days. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

CWAN has been the subject of several analyst reports. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Monday, August 11th. Wall Street Zen downgraded Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Wells Fargo & Company reduced their price objective on Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Clearwater Analytics in a research note on Wednesday, September 17th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Clearwater Analytics presently has an average rating of “Moderate Buy” and a consensus target price of $29.56.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock opened at $21.71 on Friday. The business’s fifty day simple moving average is $19.10 and its 200 day simple moving average is $20.37. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.42. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.73 and a 12 month high of $32.00. The firm has a market capitalization of $6.35 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 5.71 and a beta of 0.67.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, November 5th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Clearwater Analytics had a return on equity of 2.77% and a net margin of 61.28%.The business had revenue of $205.11 million for the quarter, compared to the consensus estimate of $203.66 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 77.1% on a year-over-year basis. As a group, analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 1.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.