Magnetar Financial LLC Reduces Stock Position in Clearwater Analytics Holdings, Inc. $CWAN

Magnetar Financial LLC reduced its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 41.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,426 shares of the company’s stock after selling 9,311 shares during the period. Magnetar Financial LLC’s holdings in Clearwater Analytics were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Driehaus Capital Management LLC lifted its holdings in Clearwater Analytics by 23.8% during the 1st quarter. Driehaus Capital Management LLC now owns 2,742,511 shares of the company’s stock worth $73,499,000 after purchasing an additional 528,059 shares in the last quarter. Next Century Growth Investors LLC increased its position in shares of Clearwater Analytics by 113.4% during the first quarter. Next Century Growth Investors LLC now owns 526,761 shares of the company’s stock valued at $14,117,000 after buying an additional 279,920 shares during the period. Corebridge Financial Inc. lifted its holdings in shares of Clearwater Analytics by 3.1% in the first quarter. Corebridge Financial Inc. now owns 91,633 shares of the company’s stock worth $2,456,000 after buying an additional 2,725 shares in the last quarter. Comerica Bank boosted its position in shares of Clearwater Analytics by 20.9% in the first quarter. Comerica Bank now owns 652,370 shares of the company’s stock valued at $17,484,000 after acquiring an additional 112,925 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Clearwater Analytics by 1.4% in the first quarter. MetLife Investment Management LLC now owns 109,017 shares of the company’s stock valued at $2,922,000 after acquiring an additional 1,495 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Tuesday, July 15th. The shares were 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 of the company’s stock, valued at approximately $7,851,690. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the business’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 sale, the chief executive officer directly owned 895,663 shares of the company’s stock, valued at $19,838,935.45. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 266,748 shares of company stock valued at $5,755,414 over the last ninety days. Insiders own 3.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report 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 report on Tuesday, June 24th. DA Davidson dropped their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Finally, Oppenheimer decreased their target price 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, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.67.

Clearwater Analytics Stock Up 0.6%

CWAN opened at $20.66 on Tuesday. The business’s fifty day simple moving average is $20.96 and its 200 day simple moving average is $23.44. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $6.04 billion, a PE ratio of 12.99, a P/E/G ratio of 4.86 and a beta of 0.73.

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

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.