151,251 Shares in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners LP has purchased 151,251 shares of Clearwater Analytics Holdings, Inc. during the first quarter, valued at approximately $4,054,000, representing about 0.06% of the company's total shares.
• Clearwater Analytics reported earnings per share of $0.12 for the last quarter, slightly missing analysts' expectations, while revenue increased by 70.4% year-over-year to approximately $181.94 million.
• A variety of analysts have downgraded their price targets for Clearwater Analytics stocks, with Oppenheimer lowering its price objective from $40.00 to $36.00 and others projecting a consensus price of approximately $31.90.

CenterBook Partners LP acquired a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 151,251 shares of the company's stock, valued at approximately $4,054,000. CenterBook Partners LP owned approximately 0.06% of Clearwater Analytics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CWAN. Vanguard Group Inc. increased its holdings in shares of Clearwater Analytics by 11.3% during the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after acquiring an additional 2,366,715 shares in the last quarter. Brown Advisory Inc. grew its holdings in Clearwater Analytics by 15,661.6% during the first quarter. Brown Advisory Inc. now owns 1,407,040 shares of the company's stock worth $37,709,000 after buying an additional 1,398,113 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Clearwater Analytics by 394.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,507,900 shares of the company's stock worth $41,497,000 after buying an additional 1,202,900 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Clearwater Analytics by 369.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,481,582 shares of the company's stock worth $40,773,000 after buying an additional 1,166,139 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Clearwater Analytics during the fourth quarter worth $30,375,000. Institutional investors own 50.10% of the company's stock.

Insider Transactions at Clearwater Analytics

In other news, insider Subi Sethi sold 7,358 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total transaction of $159,447.86. Following the transaction, the insider owned 218,788 shares of the company's stock, valued at $4,741,135.96. This represents a 3.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $22.15, for a total value of $1,107,500.00. Following the transaction, the chief executive officer directly owned 895,663 shares in the company, valued at $19,838,935.45. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,107 shares of company stock worth $5,844,208 over the last quarter. 3.31% of the stock is currently owned by corporate insiders.

Clearwater Analytics Stock Performance

NYSE:CWAN traded up $0.96 during trading on Friday, reaching $19.75. The company's stock had a trading volume of 10,158,611 shares, compared to its average volume of 4,427,117. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 5.09 and a current ratio of 2.02. The firm has a 50 day moving average of $21.89 and a 200-day moving average of $24.44. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business had revenue of $181.94 million during the quarter, compared to the consensus estimate of $174.16 million. During the same quarter last year, the company earned $0.10 EPS. The firm's revenue for the quarter was up 70.4% compared to the same quarter last year. Research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Clearwater Analytics in a report on Monday, May 19th. They set a "neutral" rating and a $26.00 price target for the company. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Oppenheimer decreased their price target on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 price target for the company. Finally, 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 report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.90.

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.