Lord Abbett & CO. LLC Takes $22.31 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Lord Abbett & CO. LLC purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 810,659 shares of the company's stock, valued at approximately $22,310,000. Lord Abbett & CO. LLC owned about 0.33% of Clearwater Analytics at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after buying an additional 468 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Clearwater Analytics in the 4th quarter valued at approximately $57,000. R Squared Ltd acquired a new stake in shares of Clearwater Analytics during the 4th quarter valued at $80,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Clearwater Analytics in the fourth quarter worth $82,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Clearwater Analytics by 174.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock valued at $86,000 after buying an additional 1,987 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Price Performance

Shares of CWAN stock traded up $0.05 during trading hours on Wednesday, hitting $22.77. 4,462,649 shares of the company's stock were exchanged, compared to its average volume of 2,199,880. The stock's 50-day moving average is $25.81 and its 200-day moving average is $27.58. 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 Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. As a group, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 76,256 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $2,293,017.92. Following the sale, the executive now owns 78,363 shares in the company, valued at approximately $2,356,375.41. The trade was a 49.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sandeep Sahai sold 218,687 shares of Clearwater Analytics stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 681,588 shares in the company, valued at $20,495,351.16. This trade represents a 24.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 644,510 shares of company stock worth $18,478,363. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CWAN. DA Davidson raised Clearwater Analytics from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Morgan Stanley reiterated an "overweight" rating and set a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Royal Bank of Canada raised their price target on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Wells Fargo & Company reduced their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, 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 objective for the company. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.80.

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.