Oppenheimer Asset Management Inc. Boosts Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Oppenheimer Asset Management Inc. raised its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWANGet Rating) by 21.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 46,266 shares of the company’s stock after acquiring an additional 8,327 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Clearwater Analytics were worth $972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its holdings in Clearwater Analytics by 5,694.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,794 shares of the company’s stock valued at $133,000 after purchasing an additional 5,694 shares in the last quarter. Jeneq Management LP acquired a new stake in shares of Clearwater Analytics in the first quarter valued at about $517,000. HM Payson & Co. acquired a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $179,000. Northern Trust Corp acquired a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $1,405,000. Finally, Dragoneer Investment Group LLC raised its position in shares of Clearwater Analytics by 294.3% in the fourth quarter. Dragoneer Investment Group LLC now owns 11,828,717 shares of the company’s stock valued at $271,824,000 after buying an additional 8,828,717 shares during the last quarter. 37.56% of the stock is owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $14.84 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 11.92 and a current ratio of 11.92. The firm has a market cap of $3.53 billion and a P/E ratio of -247.29. The firm’s 50 day moving average price is $13.73 and its 200-day moving average price is $16.22. Clearwater Analytics Holdings, Inc. has a one year low of $11.23 and a one year high of $27.68.

Clearwater Analytics (NYSE:CWANGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Clearwater Analytics had a positive return on equity of 1.94% and a negative net margin of 3.68%. The firm had revenue of $73.41 million for the quarter, compared to analyst estimates of $73.21 million. As a group, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post -0.04 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Durable Capital Partners Lp purchased 52,317 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were bought at an average cost of $13.84 per share, for a total transaction of $724,067.28. Following the completion of the purchase, the insider now directly owns 9,565,823 shares of the company’s stock, valued at $132,390,990.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CWAN shares. Royal Bank of Canada reduced their target price on shares of Clearwater Analytics from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. Wells Fargo & Company reduced their target price on shares of Clearwater Analytics from $22.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, August 4th. Oppenheimer reduced their target price on shares of Clearwater Analytics from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, June 22nd. Morgan Stanley cut their price objective on shares of Clearwater Analytics from $21.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 27th. Finally, The Goldman Sachs Group cut shares of Clearwater Analytics from a “neutral” rating to a “sell” rating in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.30.

Clearwater Analytics Profile

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Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities. The company offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions.

Further Reading

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Institutional Ownership by Quarter for Clearwater Analytics (NYSE:CWAN)

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