HighTower Advisors LLC Reduces Stake in Clearwater Analytics Holdings, Inc. $CWAN

HighTower Advisors LLC lowered its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 8.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 89,014 shares of the company’s stock after selling 8,545 shares during the quarter. HighTower Advisors LLC’s holdings in Clearwater Analytics were worth $2,386,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC raised its position in shares of Clearwater Analytics by 3.9% in the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company’s stock worth $331,000 after acquiring an additional 459 shares in the last quarter. Huntleigh Advisors Inc. raised its position in shares of Clearwater Analytics by 1.9% in the 1st quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company’s stock worth $863,000 after acquiring an additional 595 shares in the last quarter. Abacus FCF Advisors LLC raised its position in shares of Clearwater Analytics by 2.8% in the 1st quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company’s stock worth $674,000 after acquiring an additional 682 shares in the last quarter. Cerity Partners LLC raised its position in shares of Clearwater Analytics by 7.3% in the 1st quarter. Cerity Partners LLC now owns 11,598 shares of the company’s stock worth $311,000 after acquiring an additional 793 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in shares of Clearwater Analytics by 2.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company’s stock worth $1,107,000 after acquiring an additional 900 shares in the last quarter. Institutional investors own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. DA Davidson decreased their target price on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Oppenheimer reduced their price objective on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, June 11th. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a research report on Friday, April 25th. They set an “overweight” rating and a $28.00 price objective for the company. Finally, The Goldman Sachs Group raised Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, August 11th. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $32.67.

Insiders Place Their Bets

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction on Friday, August 15th. The stock was sold at an average price of $19.42, for a total value of $218,960.50. Following the completion of the sale, the chief financial officer owned 343,964 shares of the company’s stock, valued at approximately $6,679,780.88. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 4,460 shares of Clearwater Analytics stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $96,648.20. Following the completion of the sale, the executive directly 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 sold a total of 219,786 shares of company stock worth $4,810,539 in the last 90 days. 3.31% of the stock is currently owned by company insiders.

Clearwater Analytics Stock Up 6.3%

Clearwater Analytics stock opened at $20.8390 on Friday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 4.61 and a beta of 0.73. The stock has a fifty day simple moving average of $21.13 and a two-hundred day simple moving average of $23.82. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71. 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 (NYSE:CWAN) last posted its earnings results 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 the consensus estimate of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm’s revenue for the quarter was up 70.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. Equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics Company 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.