Allspring Global Investments Holdings LLC Sells 908,519 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 34.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,696,832 shares of the company's stock after selling 908,519 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.68% of Clearwater Analytics worth $44,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in Clearwater Analytics in the 4th quarter valued at $82,000. OFI Invest Asset Management bought a new stake in Clearwater Analytics in the 4th quarter valued at $88,000. Assetmark Inc. bought a new stake in Clearwater Analytics in the 4th quarter valued at $111,000. Harvest Fund Management Co. Ltd bought a new stake in Clearwater Analytics in the 4th quarter valued at $116,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Clearwater Analytics in the 4th quarter valued at $116,000. 50.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $22.25, for a total value of $416,075.00. Following the completion of the transaction, the chief financial officer now owns 348,885 shares of the company's stock, valued at $7,762,691.25. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $24.29, for a total value of $1,214,500.00. Following the completion of the transaction, the chief executive officer now directly owns 876,754 shares of the company's stock, valued at $21,296,354.66. This represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,034 shares of company stock worth $4,629,774. 3.31% of the stock is currently owned by insiders.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $22.01 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.09 and a current ratio of 5.09. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.63 and a fifty-two week high of $35.71. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 4.40 and a beta of 0.77. The stock has a fifty day moving average price of $22.78 and a 200-day moving average price of $25.74.

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, topping analysts' consensus estimates of $0.12 by $0.01. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The company had revenue of $126.86 million during the quarter, compared to analysts' expectations of $125.11 million. During the same quarter in the previous year, the firm earned $0.10 EPS. Clearwater Analytics's revenue was up 23.5% on a year-over-year basis. As a group, equities analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CWAN has been the subject of several recent research reports. Oppenheimer reduced their price target 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. The Goldman Sachs Group assumed coverage on Clearwater Analytics in a research note on Monday, May 19th. They issued a "neutral" rating and a $26.00 price target for the company. JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 target price for the company. Wells Fargo & Company cut their target price 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. Finally, Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics has a consensus rating of "Moderate Buy" and a consensus target price of $31.90.

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.

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