1832 Asset Management L.P. Acquires Shares of 223,400 Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• 1832 Asset Management L.P. acquired approximately $5.99 million worth of shares in Clearwater Analytics Holdings, buying 223,400 shares in the first quarter, representing about 0.08% of the company.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., have significantly increased their holdings in Clearwater Analytics, underscoring strong institutional interest in the stock.
• While Clearwater Analytics reported a net margin of 73.74% and a year-over-year revenue increase of 70.4%, it fell short of earnings expectations by $0.01 in the most recent quarter.

1832 Asset Management L.P. 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 disclosure with the Securities and Exchange Commission (SEC). The fund acquired 223,400 shares of the company's stock, valued at approximately $5,987,000. 1832 Asset Management L.P. owned approximately 0.08% of Clearwater Analytics at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CWAN. Mariner LLC bought a new stake in shares of Clearwater Analytics during the 4th quarter worth $239,000. First Trust Advisors LP raised its position in Clearwater Analytics by 363.2% during the fourth quarter. First Trust Advisors LP now owns 267,533 shares of the company's stock valued at $7,363,000 after purchasing an additional 209,776 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Clearwater Analytics by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 108,235 shares of the company's stock worth $2,979,000 after purchasing an additional 3,300 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Clearwater Analytics by 24.4% during the fourth quarter. MetLife Investment Management LLC now owns 107,522 shares of the company's stock worth $2,959,000 after purchasing an additional 21,096 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Clearwater Analytics by 299.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,830 shares of the company's stock worth $271,000 after purchasing an additional 7,369 shares in the last quarter. Institutional investors own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. DA Davidson decreased their price objective on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Oppenheimer lowered their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Finally, The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $32.67.

Clearwater Analytics Trading Down 0.1%

Shares of NYSE CWAN traded down $0.01 during trading hours on Friday, hitting $20.52. The company's stock had a trading volume of 1,972,267 shares, compared to its average volume of 3,410,503. The business has a 50-day simple moving average of $20.99 and a 200-day simple moving average of $23.59. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 4.76 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The business had revenue of $181.94 million during the quarter, compared to the consensus estimate of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.Clearwater Analytics's quarterly revenue was up 70.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. On average, analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CTO Souvik Das sold 10,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the chief technology officer owned 132,549 shares in the company, valued at approximately $2,650,980. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sandeep Sahai sold 46,962 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $20.12, for a total transaction of $944,875.44. Following the sale, the chief executive officer owned 895,663 shares in the company, valued at approximately $18,020,739.56. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 266,748 shares of company stock worth $5,755,414 over the last ninety days. 3.31% of the stock is owned by corporate 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.