Aigen Investment Management LP Has $1.07 Million Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Key Points

• Aigen Investment Management LP increased its stake in Clearwater Analytics by 59.7% during the first quarter, with holdings valued at approximately $1,067,000.
• Institutional investors own 50.10% of Clearwater Analytics, with several hedge funds, including LPL Financial and Envestnet Asset Management, significantly increasing their positions in the company.
• Recent analyst ratings for Clearwater Analytics show an average target price of $31.90, with ten analysts recommending a buy or overweight rating.

Aigen Investment Management LP boosted its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 59.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,807 shares of the company's stock after purchasing an additional 14,886 shares during the quarter. Aigen Investment Management LP's holdings in Clearwater Analytics were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CWAN. Zevenbergen Capital Investments LLC boosted its position in shares of Clearwater Analytics by 48.6% in the first quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company's stock worth $24,373,000 after buying an additional 297,414 shares during the period. Invesco Ltd. boosted its holdings in Clearwater Analytics by 34.1% in the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock valued at $152,930,000 after purchasing an additional 1,452,474 shares during the last quarter. Townsquare Capital LLC boosted its holdings in Clearwater Analytics by 107.5% in the first quarter. Townsquare Capital LLC now owns 89,084 shares of the company's stock valued at $2,387,000 after purchasing an additional 46,154 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Clearwater Analytics during the 1st quarter worth approximately $1,388,000. Finally, Swiss National Bank raised its position in shares of Clearwater Analytics by 6.9% during the 1st quarter. Swiss National Bank now owns 414,100 shares of the company's stock worth $11,098,000 after purchasing an additional 26,800 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. DA Davidson lowered their price target on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Tuesday. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price target on the stock in a research report on Monday. Oppenheimer reduced their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company reduced their price objective on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $32.20.

Clearwater Analytics Trading Up 3.5%

NYSE:CWAN traded up $0.67 during trading hours on Wednesday, hitting $19.62. 4,710,191 shares of the stock were exchanged, compared to its average volume of 5,043,883. The company's 50 day moving average is $21.66 and its two-hundred day moving average is $24.24. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.98 and a twelve month high of $35.71. 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 company has a market capitalization of $5.56 billion, a P/E ratio of 118.44, a price-to-earnings-growth ratio of 3.79 and a beta of 0.73.

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

Insiders Place Their Bets

In other Clearwater Analytics news, insider Subi Sethi sold 7,358 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $159,447.86. Following the completion of the sale, the insider directly owned 218,788 shares in the company, valued at $4,741,135.96. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total transaction of $420,750.00. Following the transaction, the chief financial officer directly owned 348,964 shares in the company, valued at $7,851,690. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,107 shares of company stock worth $4,629,708 in the last three months. 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.