Envestnet Asset Management Inc. Acquires 55,762 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Envestnet Asset Management Inc. increased its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 15.0% during the 4th quarter, Holdings Channel reports. The firm owned 427,274 shares of the company’s stock after purchasing an additional 55,762 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Clearwater Analytics were worth $11,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CWAN. FMR LLC increased its holdings in shares of Clearwater Analytics by 171.4% in the 3rd quarter. FMR LLC now owns 9,169 shares of the company’s stock worth $232,000 after buying an additional 5,790 shares during the last quarter. HighTower Advisors LLC purchased a new position in Clearwater Analytics in the third quarter worth $237,000. Orion Portfolio Solutions LLC bought a new position in Clearwater Analytics in the third quarter valued at $346,000. Barclays PLC raised its position in Clearwater Analytics by 105.6% during the third quarter. Barclays PLC now owns 571,860 shares of the company’s stock valued at $14,439,000 after purchasing an additional 293,719 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Clearwater Analytics by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock valued at $88,710,000 after buying an additional 187,881 shares in the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. UBS Group lifted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wells Fargo & Company boosted their target price on Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Royal Bank of Canada raised their price target on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock opened at $23.04 on Friday. The business has a 50 day moving average of $26.81 and a 200 day moving average of $27.75. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71. The company has a market cap of $5.78 billion, a PE ratio of 13.88, a P/E/G 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.

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

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $23.09, for a total value of $1,154,500.00. Following the sale, the chief executive officer now directly owns 876,754 shares of the company’s stock, valued at $20,244,249.86. This represents a 5.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 4,141 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the transaction, the executive now owns 7,902 shares of the company’s stock, valued at approximately $218,490.30. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock worth $18,478,363 over the last three months. Company insiders own 4.60% of the company’s stock.

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.