Wasatch Advisors LP Reduces Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Wasatch Advisors LP lowered its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,416,206 shares of the company’s stock after selling 5,718,820 shares during the period. Clearwater Analytics accounts for approximately 1.7% of Wasatch Advisors LP’s holdings, making the stock its 12th biggest holding. Wasatch Advisors LP owned 0.05% of Clearwater Analytics worth $341,694,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after purchasing an additional 468 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Clearwater Analytics in the fourth quarter worth about $57,000. R Squared Ltd bought a new stake in Clearwater Analytics during the 4th quarter valued at approximately $80,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Clearwater Analytics during the 4th quarter worth approximately $82,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after acquiring an additional 1,987 shares in the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CWAN shares. Wells Fargo & Company lifted their price target on Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. UBS Group upped their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada increased their price target on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $35.00 to $32.00 in a research note on Tuesday, January 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Clearwater Analytics has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Trading Up 1.1 %

NYSE:CWAN opened at $23.37 on Wednesday. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 8.23 and a beta of 0.76. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average price is $27.02 and its 200-day moving average price is $27.80. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The business had revenue of $126.47 million for the quarter, compared to analysts’ expectations of $120.34 million. On average, equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $26.58, for a total transaction of $497,046.00. Following the transaction, the chief financial officer now directly owns 358,502 shares of the company’s stock, valued at $9,528,983.16. This represents a 4.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sandeep Sahai sold 218,687 shares of Clearwater Analytics stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $6,575,918.09. Following the completion of the sale, the chief executive officer now directly owns 681,588 shares of the company’s stock, valued at $20,495,351.16. The trade was a 24.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,810 shares of company stock worth $18,045,084. 4.60% of the stock is owned by corporate insiders.

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.