Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Position Trimmed by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lessened its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 53.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,627,914 shares of the company's stock after selling 1,906,246 shares during the period. Balyasny Asset Management L.P. owned about 0.66% of Clearwater Analytics worth $44,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in Clearwater Analytics by 1,600.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company's stock worth $39,690,000 after buying an additional 1,357,425 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Clearwater Analytics by 66.0% in the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock valued at $202,931,000 after purchasing an additional 2,931,445 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Clearwater Analytics in the fourth quarter worth $1,112,000. Stephens Investment Management Group LLC grew its stake 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 buying an additional 830,684 shares in the last quarter. Finally, Moody Aldrich Partners LLC lifted its holdings 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 valued at $10,634,000 after acquiring an additional 94,454 shares during the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. DA Davidson upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and cut their price objective for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Piper Sandler cut their target price on Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price target on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. UBS Group lifted their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada upped their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $32.00.

Clearwater Analytics Stock Performance

Shares of NYSE CWAN traded up $0.56 during trading hours on Friday, reaching $23.52. The stock had a trading volume of 3,079,336 shares, compared to its average volume of 2,273,116. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 8.23 and a beta of 0.79. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.63 and a fifty-two week high of $35.71. The firm has a 50-day moving average of $24.77 and a 200-day moving average of $27.41. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.13 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 analysts' expectations of $125.11 million. During the same quarter last year, the business earned $0.10 EPS. The business's revenue was up 23.5% on a year-over-year basis. Equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Transactions at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $23.17, for a total transaction of $433,279.00. Following the transaction, the chief financial officer now directly owns 358,885 shares in the company, valued at approximately $8,315,365.45. This represents a 4.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai sold 218,687 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 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 disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock valued at $18,478,363 in the last ninety days. 4.60% of the stock is currently owned by company insiders.

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.