Ameriprise Financial Inc. Grows Stock Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Ameriprise Financial Inc. increased its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 38.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 741,498 shares of the company's stock after acquiring an additional 204,563 shares during the period. Ameriprise Financial Inc. owned about 0.30% of Clearwater Analytics worth $20,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CWAN. Arcadia Investment Management Corp MI bought a new position in shares of Clearwater Analytics during the fourth quarter valued at about $57,000. R Squared Ltd purchased a new position in shares of Clearwater Analytics during the fourth quarter valued at approximately $80,000. Aster Capital Management DIFC Ltd bought a new position in shares of Clearwater Analytics during the fourth quarter valued at approximately $82,000. Nisa Investment Advisors LLC increased its position in 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 purchasing an additional 1,987 shares during the period. Finally, OFI Invest Asset Management bought a new position in Clearwater Analytics in the 4th quarter worth $88,000. Institutional investors own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

CWAN has been the subject of a number of research reports. Morgan Stanley reissued an "overweight" rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Royal Bank of Canada upped their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. assumed coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 target price for the company. The Goldman Sachs Group initiated coverage on Clearwater Analytics in a research note on Monday. They issued a "neutral" rating and a $26.00 price target on the stock. Finally, Piper Sandler lowered their price objective on Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.40.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $26.56, for a total transaction of $1,328,000.00. Following the completion of the sale, the chief executive officer now directly owns 857,798 shares of the company's stock, valued at $22,783,114.88. This trade represents a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 4,141 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the transaction, the executive now directly owns 7,902 shares in the company, valued at $218,490.30. This trade represents a 34.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,541 shares of company stock valued at $4,741,824 over the last three months. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Performance

Shares of CWAN stock traded down $0.32 during mid-day trading on Wednesday, reaching $23.35. 106,620 shares of the company's stock traded hands, compared to its average volume of 2,316,735. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.63 and a 12 month high of $35.71. The firm has a 50 day moving average price of $24.17 and a two-hundred day moving average price of $27.29. The firm has a market capitalization of $6.61 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 8.23 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company had revenue of $126.86 million during the quarter, compared to analyst estimates of $125.11 million. During the same period in the prior year, the firm posted $0.10 EPS. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. On average, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

About Clearwater Analytics

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.