Swiss National Bank Boosts Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Swiss National Bank raised its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 414,100 shares of the company’s stock after purchasing an additional 26,800 shares during the quarter. Swiss National Bank owned 0.15% of Clearwater Analytics worth $11,098,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Nvwm LLC purchased a new stake in shares of Clearwater Analytics during the 1st quarter worth about $46,000. CWM LLC boosted its stake in shares of Clearwater Analytics by 714.6% during the 1st quarter. CWM LLC now owns 3,071 shares of the company’s stock worth $82,000 after acquiring an additional 2,694 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Clearwater Analytics during the 4th quarter worth about $121,000. Portside Wealth Group LLC purchased a new stake in shares of Clearwater Analytics during the 1st quarter worth about $206,000. Finally, Norden Group LLC purchased a new stake in shares of Clearwater Analytics during the 1st quarter worth about $232,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Clearwater Analytics news, insider Subi Sethi sold 7,358 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $21.67, for a total value of $159,447.86. Following the completion of the sale, the insider owned 218,788 shares in the company, valued at approximately $4,741,135.96. This represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Scott Stanley Erickson sold 4,460 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $96,648.20. Following the completion of the sale, the executive owned 15,776 shares of the company’s stock, valued at approximately $341,865.92. The trade was a 22.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,107 shares of company stock worth $4,629,708 in the last 90 days. Corporate insiders own 3.31% of the company’s stock.

Clearwater Analytics Stock Down 0.7%

CWAN stock opened at $19.24 on Friday. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 4.56 and a beta of 0.73. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71. The firm has a 50-day moving average of $21.48 and a two-hundred day moving average of $24.12.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm’s revenue was up 70.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. DA Davidson lowered their target price on shares of Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They set an “overweight” rating and a $28.00 price target for the company. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. Wells Fargo & Company reduced their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $32.20.

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.