Voloridge Investment Management LLC Acquires New Shares in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Voloridge Investment Management LLC purchased a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,058,268 shares of the company's stock, valued at approximately $29,124,000. Voloridge Investment Management LLC owned approximately 0.43% of Clearwater Analytics at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CWAN. Arcadia Investment Management Corp MI acquired a new position in shares of Clearwater Analytics during the fourth quarter valued at approximately $57,000. R Squared Ltd bought a new position in Clearwater Analytics during the 4th quarter valued at $80,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Clearwater Analytics during the 4th quarter valued at $82,000. Nisa Investment Advisors LLC raised its stake in shares of Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock worth $86,000 after buying an additional 1,987 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Clearwater Analytics in the 4th quarter worth $88,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on CWAN. Royal Bank of Canada raised their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. UBS Group raised their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 price objective on the stock. Morgan Stanley reissued an "overweight" rating and set a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Finally, 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 report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.40.

Insider Activity

In other news, Director Kathleen A. Corbet sold 12,634 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total value of $298,920.44. Following the transaction, the director now owns 14,498 shares in the company, valued at $343,022.68. This represents a 46.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Scott Stanley Erickson sold 4,141 shares of the stock in a transaction that occurred 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 sale, the executive now directly owns 7,902 shares of the company's stock, valued at $218,490.30. This trade represents a 34.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 204,175 shares of company stock worth $5,040,744 over the last quarter. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Trading Up 2.3%

CWAN stock traded up $0.51 during mid-day trading on Tuesday, reaching $22.55. 861,779 shares of the stock traded hands, compared to its average volume of 2,348,034. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.63 and a 52-week high of $35.71. The stock's fifty day moving average is $23.81 and its 200-day moving average is $27.08. The company has a market cap of $6.39 billion, a P/E ratio of 13.58, a P/E/G ratio of 8.23 and a beta of 0.79. 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 issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, beating 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 business had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm's quarterly revenue was up 23.5% on a year-over-year basis. As a group, sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics 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.