Lisanti Capital Growth LLC Acquires Shares of 134,035 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Lisanti Capital Growth LLC purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 134,035 shares of the company's stock, valued at approximately $3,592,000. Lisanti Capital Growth LLC owned about 0.05% of Clearwater Analytics at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in Clearwater Analytics in the fourth quarter valued at approximately $82,000. OFI Invest Asset Management bought a new stake in shares of Clearwater Analytics in the 4th quarter valued at $88,000. Assetmark Inc. acquired a new stake in Clearwater Analytics during the 4th quarter worth $111,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Clearwater Analytics during the fourth quarter worth about $116,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Clearwater Analytics in the fourth quarter valued at about $116,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Analytics Stock Down 0.5%

Shares of Clearwater Analytics stock traded down $0.12 during trading hours on Wednesday, reaching $21.77. 2,957,816 shares of the company's stock were exchanged, compared to its average volume of 2,532,839. The company has a 50 day moving average of $22.80 and a two-hundred day moving average of $25.66. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.63 and a fifty-two week high of $35.71. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.17 billion, a P/E ratio of 12.96, a P/E/G ratio of 4.39 and a beta of 0.74.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share 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 analysts' expectations of $125.11 million. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The firm's revenue was up 23.5% on a year-over-year basis. During the same period last year, the business earned $0.10 earnings per share. On average, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on CWAN. The Goldman Sachs Group initiated coverage on Clearwater Analytics in a research report on Monday, May 19th. They set a "neutral" rating and a $26.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Oppenheimer cut their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 11th. Finally, Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.90.

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 shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the sale, the director directly owned 14,498 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $22.25, for a total value of $1,112,500.00. Following the transaction, the chief executive officer owned 876,754 shares of the company's stock, valued at $19,507,776.50. The trade was a 5.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,034 shares of company stock valued at $4,629,774 in the last quarter. Company insiders own 3.31% of the company's stock.

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.