Bank of New York Mellon Corp Sells 11,358 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Bank of New York Mellon Corp lowered its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 1.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,028,830 shares of the company's stock after selling 11,358 shares during the period. Bank of New York Mellon Corp owned 0.41% of Clearwater Analytics worth $27,573,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CWAN. Wellington Management Group LLP lifted its position in shares of Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock worth $163,867,000 after purchasing an additional 2,950,555 shares during the period. Alliancebernstein L.P. lifted its position in shares of Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock worth $202,931,000 after purchasing an additional 2,931,445 shares during the period. Vanguard Group Inc. lifted its position in shares of Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company's stock worth $574,607,000 after purchasing an additional 2,455,844 shares during the period. Norges Bank acquired a new position in shares of Clearwater Analytics during the 4th quarter valued at $59,402,000. Finally, Blair William & Co. IL lifted its position in shares of Clearwater Analytics by 3,835.2% during the 4th quarter. Blair William & Co. IL now owns 1,754,732 shares of the company's stock valued at $48,290,000 after acquiring an additional 1,710,141 shares during the period. Institutional investors and hedge funds own 50.10% of the company's stock.

Insider Activity at Clearwater Analytics

In related news, Director Kathleen A. Corbet sold 12,634 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total transaction of $298,920.44. Following the completion of the transaction, the director owned 14,498 shares in the company, valued at approximately $343,022.68. This represents a 46.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Subi Sethi sold 7,358 shares of the stock in a transaction dated Monday, June 30th. The stock was 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 approximately $4,741,135.96. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,107 shares of company stock worth $5,844,208 in the last ninety days. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Performance

Shares of NYSE CWAN traded down $0.22 during midday trading on Friday, reaching $21.50. The company's stock had a trading volume of 3,071,236 shares, compared to its average volume of 2,650,659. Clearwater Analytics Holdings, Inc. has a 12-month low of $19.46 and a 12-month high of $35.71. The firm has a 50 day moving average price of $22.61 and a 200-day moving average price of $25.11. The stock has a market capitalization of $6.09 billion, a P/E ratio of 12.80, a PEG ratio of 4.30 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.09 and a quick ratio of 5.09.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share 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 firm had revenue of $126.86 million for the quarter, compared to the consensus estimate of $125.11 million. During the same quarter in the previous year, the business earned $0.10 EPS. The company's revenue was up 23.5% compared to the same quarter last year. As a group, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

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