Ashford Capital Management Inc. Acquires 277,289 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Ashford Capital Management Inc. increased its stake in Clearwater Analytics Holdings, acquiring 277,289 shares, boosting its position by 98.6% in the first quarter, now holding a total of 558,409 shares.
• Clearwater Analytics recently had several institutional investors, including Vanguard Group and Invesco, increase their holdings, reflecting a strong interest as institutional ownership reached 50.10%.
• Goldman Sachs upgraded Clearwater Analytics to a "buy" rating with a price target of $27.00, contributing to a consensus rating of "Buy" among nine investment analysts.

Ashford Capital Management Inc. grew its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 98.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 558,409 shares of the company's stock after purchasing an additional 277,289 shares during the period. Clearwater Analytics accounts for 1.9% of Ashford Capital Management Inc.'s portfolio, making the stock its 24th biggest position. Ashford Capital Management Inc. owned approximately 0.20% of Clearwater Analytics worth $14,965,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Baird Financial Group Inc. increased its holdings in shares of Clearwater Analytics by 62.2% in the 1st quarter. Baird Financial Group Inc. now owns 195,084 shares of the company's stock worth $5,228,000 after acquiring an additional 74,845 shares during the period. Driehaus Capital Management LLC increased its stake in Clearwater Analytics by 23.8% during the 1st quarter. Driehaus Capital Management LLC now owns 2,742,511 shares of the company's stock valued at $73,499,000 after buying an additional 528,059 shares during the period. Next Century Growth Investors LLC increased its stake in Clearwater Analytics by 113.4% during the 1st quarter. Next Century Growth Investors LLC now owns 526,761 shares of the company's stock valued at $14,117,000 after buying an additional 279,920 shares during the period. Corebridge Financial Inc. grew its stake in shares of Clearwater Analytics by 3.1% in the 1st quarter. Corebridge Financial Inc. now owns 91,633 shares of the company's stock worth $2,456,000 after purchasing an additional 2,725 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Clearwater Analytics by 20.9% in the 1st quarter. Comerica Bank now owns 652,370 shares of the company's stock worth $17,484,000 after purchasing an additional 112,925 shares during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN traded down $0.05 on Wednesday, hitting $20.14. The stock had a trading volume of 4,237,570 shares, compared to its average volume of 3,427,759. The firm's 50 day moving average price is $20.92 and its 200-day moving average price is $23.42. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 4.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.98 and a twelve month high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm's quarterly revenue was up 70.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. On average, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price target for the company in a report on Monday, August 11th. Oppenheimer reduced their target price 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. Finally, DA Davidson dropped their price target on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $32.67.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the completion of the sale, the chief executive officer owned 895,663 shares in the company, valued at approximately $19,838,935.45. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total value of $420,750.00. Following the completion of the sale, the chief financial officer directly owned 348,964 shares of the company's stock, valued at approximately $7,851,690. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,748 shares of company stock valued at $5,755,414. 3.31% of the stock is currently owned by company insiders.

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.