56,048 Shares in Clearwater Analytics Holdings, Inc. $CWAN Bought by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP acquired 56,048 shares of Clearwater Analytics Holdings, valued at approximately $1.5 million, marking a significant investment in the company.
• Brokerage analysts show a generally positive outlook on Clearwater Analytics, with a consensus buy rating and target price of $32.67, although individual price targets range from $27.00 to $34.00.
• The company's quarterly earnings report showed a revenue increase of 70.4% year-over-year, despite missing earnings per share estimates, as it prepares for a $100 million share buyback program.

Cinctive Capital Management LP bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 56,048 shares of the company's stock, valued at approximately $1,502,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Apollon Wealth Management LLC grew its holdings in Clearwater Analytics by 3.9% during the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock valued at $331,000 after buying an additional 459 shares in the last quarter. Huntleigh Advisors Inc. grew its stake in Clearwater Analytics by 1.9% during the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock valued at $863,000 after acquiring an additional 595 shares in the last quarter. Abacus FCF Advisors LLC increased its holdings in Clearwater Analytics by 2.8% in the 1st quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock valued at $674,000 after acquiring an additional 682 shares during the last quarter. Cerity Partners LLC lifted its stake in Clearwater Analytics by 7.3% in the 1st quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock worth $311,000 after purchasing an additional 793 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Clearwater Analytics by 2.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company's stock valued at $1,107,000 after purchasing an additional 900 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CWAN has been the topic of several recent research reports. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Oppenheimer decreased their target price 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. Zacks Research upgraded Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. DA Davidson reduced their price objective on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group raised Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective for the company in a research note on Monday, August 11th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.67.

Clearwater Analytics Stock Down 0.8%

Shares of Clearwater Analytics stock traded down $0.16 during trading on Tuesday, hitting $20.25. 2,776,375 shares of the stock traded hands, compared to its average volume of 3,446,149. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.98 and a 52-week high of $35.71. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. The firm has a market cap of $5.92 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 5.26 and a beta of 0.73. The stock's fifty day simple moving average is $20.79 and its 200 day simple moving average is $23.16.

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 (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $181.94 million for the quarter, compared to analysts' expectations of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business's quarterly revenue was up 70.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. On average, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics declared that its board has initiated a share repurchase plan on Wednesday, September 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 1.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Clearwater Analytics

In other news, 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 directly owned 895,663 shares of the company's stock, valued at $18,020,739.56. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James S. Cox sold 11,275 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $19.42, for a total value of $218,960.50. Following the completion of the transaction, the chief financial officer owned 343,964 shares of the company's stock, valued at $6,679,780.88. This trade represents a 3.17% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 266,748 shares of company stock worth $5,755,414. Company insiders own 3.31% of the company's stock.

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.