Aaron Wealth Advisors LLC Takes $980,000 Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Aaron Wealth Advisors LLC acquired a new stake of approximately $980,000 in Clearwater Analytics, purchasing 44,688 shares in the second quarter.
• Analysts have recently updated their ratings for Clearwater Analytics, with Goldman Sachs upgrading to a "buy" and setting a price target of $27.00, while the consensus price target currently stands at $32.67.
• Clearwater Analytics announced a share buyback program worth $100 million, indicating the board's belief that the company's shares are undervalued.

Aaron Wealth Advisors LLC acquired a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 44,688 shares of the company's stock, valued at approximately $980,000.

A number of other hedge funds also recently made changes to their positions in CWAN. Cetera Investment Advisers lifted its holdings in shares of Clearwater Analytics by 60.7% during the 4th quarter. Cetera Investment Advisers now owns 14,243 shares of the company's stock worth $392,000 after acquiring an additional 5,379 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Clearwater Analytics by 22.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 101,821 shares of the company's stock valued at $2,802,000 after acquiring an additional 18,751 shares during the period. ProShare Advisors LLC increased its position in shares of Clearwater Analytics by 75.6% during the fourth quarter. ProShare Advisors LLC now owns 50,363 shares of the company's stock valued at $1,386,000 after buying an additional 21,688 shares during the period. Point72 Asset Management L.P. bought a new position in Clearwater Analytics in the fourth quarter worth about $2,067,000. Finally, Two Sigma Investments LP raised its stake in Clearwater Analytics by 1,881.8% in the fourth quarter. Two Sigma Investments LP now owns 429,139 shares of the company's stock worth $11,810,000 after buying an additional 407,485 shares in the last quarter. 50.10% of the stock is owned by institutional investors.

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total transaction of $420,750.00. Following the sale, the chief financial officer owned 348,964 shares of the company's stock, valued at approximately $7,851,690. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Subi Sethi sold 7,358 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 218,788 shares in the company, valued at approximately $4,741,135.96. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,323 shares of company stock worth $4,652,514. Insiders own 3.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CWAN. Oppenheimer decreased their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. DA Davidson decreased their price target on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research note 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. Zacks Research upgraded shares of Clearwater Analytics from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. Finally, The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective on the stock in a report on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

Clearwater Analytics Price Performance

NYSE CWAN traded down $1.11 on Friday, reaching $18.20. The company had a trading volume of 10,346,199 shares, compared to its average volume of 3,922,392. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $5.32 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 4.62 and a beta of 0.73. The firm's 50 day moving average price is $20.28 and its 200 day moving average price is $22.52. 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 released its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm had revenue of $181.94 million for the quarter, compared to analysts' expectations of $174.16 million. During the same period in the prior year, the firm posted $0.10 earnings per share. Clearwater Analytics's revenue for the quarter was up 70.4% on a year-over-year basis. As a group, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics announced that its Board of Directors has initiated a share buyback program on Wednesday, September 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.