Fred Alger Management LLC Purchases 357,086 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Fred Alger Management LLC raised its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,469,228 shares of the company’s stock after buying an additional 357,086 shares during the quarter. Fred Alger Management LLC’s holdings in Clearwater Analytics were worth $67,953,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Barclays PLC lifted 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 during the last quarter. GAMMA Investing LLC grew its position in Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after acquiring an additional 468 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Clearwater Analytics during the fourth quarter worth approximately $345,000. Jackson Square Capital LLC bought a new stake in Clearwater Analytics during the fourth quarter worth approximately $558,000. Finally, Nisa Investment Advisors LLC raised its position in Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock valued at $86,000 after purchasing an additional 1,987 shares during the period. Institutional investors own 50.10% of the company’s stock.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $23.17, for a total transaction of $433,279.00. Following the completion of the sale, the chief financial officer now directly owns 358,885 shares in the company, valued at approximately $8,315,365.45. The trade was a 4.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $27.63, for a total transaction of $1,381,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $17,016,073.65. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock valued at $18,478,363 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Clearwater Analytics Trading Up 0.1 %

NYSE CWAN opened at $22.89 on Thursday. The company has a fifty day moving average of $25.05 and a 200 day moving average of $27.46. The company has a market capitalization of $5.75 billion, a PE ratio of 13.79, a P/E/G ratio of 8.23 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.58 and a 1 year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. During the same period in the previous year, the company posted $0.10 earnings per share. Clearwater Analytics’s revenue for the quarter was up 23.5% on a year-over-year basis. Research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on CWAN. Wells Fargo & Company decreased their price target on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Piper Sandler cut their price target on shares of Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a research report on Friday, April 25th. They set an “overweight” rating and a $28.00 target price for the company. Finally, Royal Bank of Canada boosted their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

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.