Malaga Cove Capital LLC Acquires 6,210 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Malaga Cove Capital LLC grew its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 35.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,743 shares of the company’s stock after purchasing an additional 6,210 shares during the period. Malaga Cove Capital LLC’s holdings in Clearwater Analytics were worth $653,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Clearwater Analytics by 98.2% during the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after buying an additional 2,950,555 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Clearwater Analytics by 66.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after acquiring an additional 2,931,445 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Clearwater Analytics by 13.3% during the 4th 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 during the last quarter. Norges Bank bought a new stake in shares of Clearwater Analytics in the 4th quarter worth $59,402,000. Finally, Blair William & Co. IL grew its stake in shares of Clearwater Analytics by 3,835.2% in the 4th quarter. Blair William & Co. IL now owns 1,754,732 shares of the company’s stock worth $48,290,000 after acquiring an additional 1,710,141 shares in the last quarter. 50.10% of the stock is owned by institutional investors.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $24.31 on Wednesday. The business’s 50 day simple moving average is $24.55 and its 200 day simple moving average is $27.39. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.63 and a 12 month high of $35.71. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 8.23 and a beta of 0.79. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

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

Insiders Place Their Bets

In other Clearwater Analytics news, insider Subi Sethi sold 62,482 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the sale, the insider now owns 144,973 shares of the company’s stock, valued at $4,359,338.11. The trade was a 30.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $23.09, for a total value of $1,154,500.00. Following the completion of the transaction, the chief executive officer now directly owns 876,754 shares of the company’s stock, valued at $20,244,249.86. The trade was a 5.40% 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 quarter. 4.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CWAN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. began 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 on the stock. Royal Bank of Canada boosted their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Piper Sandler dropped their price target on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Finally, DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus target price of $32.00.

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.