Legato Capital Management LLC Acquires Shares of 25,255 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Legato Capital Management LLC acquired a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,255 shares of the company’s stock, valued at approximately $677,000.

A number of other hedge funds also recently bought and sold shares of the company. KLP Kapitalforvaltning AS lifted its stake in Clearwater Analytics by 2.2% during the first quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company’s stock valued at $1,107,000 after buying an additional 900 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Clearwater Analytics by 19.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 371,810 shares of the company’s stock valued at $9,965,000 after buying an additional 60,038 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Clearwater Analytics in the first quarter worth approximately $16,895,000. Victory Capital Management Inc. lifted its position in shares of Clearwater Analytics by 523.2% in the first quarter. Victory Capital Management Inc. now owns 137,108 shares of the company’s stock worth $3,674,000 after purchasing an additional 115,107 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of Clearwater Analytics by 3.9% in the first quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company’s stock worth $331,000 after purchasing an additional 459 shares in the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total transaction of $420,750.00. Following the transaction, the chief financial officer owned 348,964 shares in the company, valued at $7,851,690. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $22.15, for a total value of $1,107,500.00. Following the transaction, the chief executive officer owned 895,663 shares in the company, valued at approximately $19,838,935.45. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,107 shares of company stock worth $5,844,208. 3.31% of the stock is currently owned by company insiders.

Clearwater Analytics Trading Down 0.7%

NYSE:CWAN opened at $21.15 on Friday. The stock’s 50 day moving average price is $22.37 and its 200 day moving average price is $24.95. Clearwater Analytics Holdings, Inc. has a 52 week low of $19.46 and a 52 week high of $35.71. The company has a market capitalization of $5.99 billion, a P/E ratio of 12.59, a P/E/G ratio of 4.26 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.09 and a current ratio of 5.09.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The firm had revenue of $126.86 million for the quarter, compared to the consensus estimate of $125.11 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The firm’s revenue was up 23.5% on a year-over-year basis. On average, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CWAN shares. Oppenheimer reduced their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, June 11th. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They issued an “overweight” rating and a $28.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group started coverage on shares of Clearwater Analytics in a research report on Monday, May 19th. They issued a “neutral” rating and a $26.00 price target for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Clearwater Analytics currently has an average rating of “Moderate Buy” and a consensus price target of $31.90.

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.