Resona Asset Management Co. Ltd. Invests $991,000 in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 36,028 shares of the company’s stock, valued at approximately $991,000.

A number of other hedge funds also recently bought and sold shares of CWAN. Vanguard Group Inc. raised its stake in shares of Clearwater Analytics by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after acquiring an additional 2,455,844 shares in the last quarter. Alliancebernstein L.P. raised its position in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock worth $202,931,000 after purchasing an additional 2,931,445 shares during the period. Wellington Management Group LLP lifted its stake in Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock worth $163,867,000 after purchasing an additional 2,950,555 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Clearwater Analytics by 52.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after buying an additional 1,585,869 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Clearwater Analytics by 19.2% during the fourth quarter. Geode Capital Management LLC now owns 4,186,137 shares of the company’s stock valued at $115,232,000 after buying an additional 673,626 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $27.63, for a total value of $1,381,500.00. Following the sale, the chief executive officer now directly owns 615,855 shares of the company’s stock, valued at $17,016,073.65. The trade was a 7.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $26.94, for a total value of $503,778.00. Following the transaction, the chief financial officer now directly owns 279,857 shares of the company’s stock, valued at approximately $7,539,347.58. This trade represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock valued at $18,688,862 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CWAN. Wells Fargo & Company increased their target price on Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Royal Bank of Canada increased their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their price target for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Trading Down 3.8 %

Shares of CWAN opened at $23.06 on Friday. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $27.35 and its 200-day moving average price is $27.85. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 8.23 and a beta of 0.76.

Clearwater Analytics (NYSE:CWAN) last posted 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 for the quarter, compared to the consensus estimate of $120.34 million. Sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

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.