Allianz Asset Management GmbH Takes Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Key Points

• Allianz Asset Management GmbH has invested approximately $16.90 million in Clearwater Analytics Holdings, acquiring 630,396 shares, representing about 0.25% of the company's stock.
• Clearwater Analytics reported a 23.5% increase in revenue year-over-year, with earnings per share of $0.13 for the last quarter, surpassing analysts' expectations.
• Institutional investors currently own 50.10% of Clearwater Analytics, with significant stake increases from major firms like Vanguard and Wellington Management in the last quarter.

Allianz Asset Management GmbH bought a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 630,396 shares of the company's stock, valued at approximately $16,895,000. Allianz Asset Management GmbH owned 0.25% of Clearwater Analytics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of Clearwater Analytics in the fourth quarter valued at $82,000. CWM LLC increased its position in shares of Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after buying an additional 2,694 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Clearwater Analytics in the fourth quarter valued at $116,000. Kapitalo Investimentos Ltda purchased a new position in shares of Clearwater Analytics in the fourth quarter valued at $121,000. Finally, Headlands Technologies LLC purchased a new position in shares of Clearwater Analytics in the fourth quarter valued at $176,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Wall Street Analysts Forecast Growth

CWAN has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 price objective for the company. Oppenheimer dropped their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Finally, The Goldman Sachs Group initiated coverage on Clearwater Analytics in a research report on Monday, May 19th. They set a "neutral" rating and a $26.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.90.

Insider Transactions at Clearwater Analytics

In other news, insider Subi Sethi sold 7,358 shares of Clearwater Analytics stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $159,447.86. Following the transaction, the insider directly owned 218,788 shares of the company's stock, valued at $4,741,135.96. The trade was a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 258,107 shares of company stock valued at $5,844,208. 3.31% of the stock is currently owned by company insiders.

Clearwater Analytics Trading Down 1.4%

CWAN traded down $0.31 during midday trading on Tuesday, hitting $21.18. The company's stock had a trading volume of 475,580 shares, compared to its average volume of 3,150,438. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.04. The firm has a market cap of $6.00 billion, a P/E ratio of 12.61, a PEG ratio of 4.26 and a beta of 0.74. The firm has a 50-day moving average price of $22.28 and a two-hundred day moving average price of $24.84. Clearwater Analytics Holdings, Inc. has a 52-week low of $19.46 and a 52-week high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $126.86 million during the quarter, compared to analysts' expectations of $125.11 million. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The firm's revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics Company 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.