Clearwater Analytics Holdings, Inc. $CWAN Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 7.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,412,929 shares of the company’s stock after acquiring an additional 458,444 shares during the period. Wellington Management Group LLP’s holdings in Clearwater Analytics were worth $171,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CWAN. Nvwm LLC acquired a new stake in Clearwater Analytics in the first quarter valued at approximately $46,000. CWM LLC boosted its stake in shares of Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company’s stock valued at $82,000 after purchasing an additional 2,694 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Clearwater Analytics during the 4th quarter valued at $121,000. Portside Wealth Group LLC purchased a new stake in Clearwater Analytics during the 1st quarter worth $206,000. Finally, Norden Group LLC acquired a new position in Clearwater Analytics in the 1st quarter worth $232,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They issued an “overweight” rating and a $28.00 price objective for the company. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Monday, August 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. DA Davidson lowered their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Finally, Oppenheimer cut their price objective on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 11th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $32.67.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the completion of the transaction, the chief executive officer directly owned 895,663 shares in the company, valued at $19,838,935.45. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Souvik Das sold 5,273 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $114,265.91. Following the completion of the sale, the chief technology officer directly owned 142,549 shares in the company, valued at $3,089,036.83. This represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,748 shares of company stock worth $4,549,748. 3.31% of the stock is owned by company insiders.

Clearwater Analytics Price Performance

CWAN opened at $19.57 on Thursday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 4.66 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.71. The company’s 50-day moving average price is $21.22 and its 200 day moving average price is $23.94. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business’s revenue was up 70.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

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.