Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Bought by Millennium Management LLC

Millennium Management LLC boosted its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 189.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,310,674 shares of the company’s stock after buying an additional 857,805 shares during the period. Millennium Management LLC owned 0.53% of Clearwater Analytics worth $36,070,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in 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 buying an additional 2,455,844 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Clearwater Analytics by 66.0% in the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after purchasing an additional 2,931,445 shares during the period. Wellington Management Group LLP increased its holdings in shares of Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after purchasing an additional 2,950,555 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Clearwater Analytics by 52.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after purchasing an additional 1,585,869 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Clearwater Analytics by 9.0% in the fourth quarter. Invesco Ltd. now owns 4,253,863 shares of the company’s stock valued at $117,066,000 after purchasing an additional 352,201 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Trading Down 0.9%

Shares of CWAN stock opened at $23.81 on Friday. The business’s fifty day moving average price is $24.31 and its 200 day moving average price is $27.33. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.63 and a 1-year high of $35.71. The firm has a market capitalization of $6.74 billion, a PE ratio of 14.34, 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 (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, topping 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 firm had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. Clearwater Analytics’s quarterly revenue was up 23.5% on a year-over-year basis. As a group, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

CWAN has been the topic of a number of recent research reports. Piper Sandler dropped their target price on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. UBS Group boosted their target price on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Wells Fargo & Company dropped their target price on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. started coverage on Clearwater Analytics in a report on Friday, April 25th. They issued an “overweight” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Clearwater Analytics currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Insiders Place Their Bets

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 76,256 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the sale, the executive now directly owns 78,363 shares in the company, valued at approximately $2,356,375.41. The trade was a 49.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.29, for a total value of $1,214,500.00. Following the sale, the chief executive officer now owns 876,754 shares in the company, valued at approximately $21,296,354.66. The trade was a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 644,510 shares of company stock worth $18,311,363. 3.31% of the stock is owned by corporate insiders.

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.