Vanguard Group Inc. Acquires 2,455,844 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Vanguard Group Inc. grew its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 13.3% in the fourth quarter, HoldingsChannel reports. The fund owned 20,879,597 shares of the company’s stock after purchasing an additional 2,455,844 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of Clearwater Analytics worth $574,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after purchasing an additional 468 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Clearwater Analytics during the 4th quarter valued at approximately $57,000. R Squared Ltd purchased a new stake in Clearwater Analytics in the 4th quarter worth approximately $80,000. Nisa Investment Advisors LLC raised its stake in Clearwater Analytics by 174.1% during 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 during the period. Finally, OFI Invest Asset Management purchased a new position in Clearwater Analytics during the fourth quarter valued at approximately $88,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Trading Up 1.1 %

CWAN opened at $26.83 on Tuesday. 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 stock’s fifty day moving average is $28.26 and its two-hundred day moving average is $27.97. The company has a market capitalization of $6.74 billion, a P/E ratio of 16.16, a PEG ratio of 8.23 and a beta of 0.69. 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 released its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share 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 firm had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Activity

In related news, CTO Souvik Das sold 76,844 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $2,310,699.08. Following the transaction, the chief technology officer now owns 68,902 shares in the company, valued at approximately $2,071,883.14. This represents a 52.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Subi Sethi sold 62,482 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the sale, the insider now owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. The trade was a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 644,510 shares of company stock worth $18,688,862. Corporate insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CWAN shares. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Oppenheimer boosted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $28.00 to $36.00 in a research report on Thursday, February 20th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Finally, Royal Bank of Canada increased their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus price target of $33.80.

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.