Sandia Investment Management LP Purchases Shares of 25,000 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Sandia Investment Management LP purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $688,000. Clearwater Analytics makes up about 1.6% of Sandia Investment Management LP’s portfolio, making the stock its 17th largest position.

Several other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in Clearwater Analytics by 1,600.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock valued at $39,690,000 after purchasing an additional 1,357,425 shares in the last quarter. Alliancebernstein L.P. boosted its position in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after buying an additional 2,931,445 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Clearwater Analytics in the 4th quarter valued at $1,112,000. Stephens Investment Management Group LLC boosted its position in shares of Clearwater Analytics by 189.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after purchasing an additional 830,684 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its position in shares of Clearwater Analytics by 32.4% in the 4th quarter. Moody Aldrich Partners LLC now owns 386,424 shares of the company’s stock worth $10,634,000 after purchasing an additional 94,454 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a research report on Friday, April 25th. They issued an “overweight” rating and a $28.00 price target on the stock. Royal Bank of Canada lifted their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company dropped their price target on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler lowered their target price on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.00.

Clearwater Analytics Stock Down 0.9%

Shares of CWAN opened at $23.81 on Friday. Clearwater Analytics Holdings, Inc. has a one year low of $17.63 and a one year high of $35.71. The company has a market cap of $6.74 billion, a P/E 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. The firm has a 50 day simple moving average of $24.31 and a two-hundred day simple moving average of $27.33.

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

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 218,687 shares of the company’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 $6,575,918.09. Following the sale, the chief executive officer now owns 681,588 shares of the company’s stock, valued at approximately $20,495,351.16. This represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $27.33, for a total transaction of $511,071.00. Following the transaction, the chief financial officer now directly owns 274,857 shares in the company, valued at $7,511,841.81. This trade represents a 6.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 644,510 shares of company stock worth $18,311,363. Corporate insiders own 3.31% of the company’s stock.

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.