Curi RMB Capital LLC Boosts Stock Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Curi RMB Capital LLC increased its stake in Clearwater Analytics by 57.1% in Q1, acquiring an additional 122,575 shares to own approximately $9 million worth of the stock.
• Insider selling was noted, with CEO Sandeep Sahai selling 50,000 shares, reducing his ownership by 5.29%, while insiders sold a total of 266,748 shares worth about $5.8 million in the last 90 days.
• The stock holds a consensus "Buy" rating from analysts, with an average target price of $32.67, despite recent adjustments from major firms including a downgrade by Oppenheimer and a buy upgrade from Goldman Sachs.

Curi RMB Capital LLC raised its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 57.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 337,153 shares of the company's stock after acquiring an additional 122,575 shares during the period. Curi RMB Capital LLC owned approximately 0.12% of Clearwater Analytics worth $9,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CWAN. Zevenbergen Capital Investments LLC lifted its stake in Clearwater Analytics by 48.6% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company's stock valued at $24,373,000 after purchasing an additional 297,414 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Clearwater Analytics during the first quarter worth approximately $314,000. Vanguard Group Inc. increased its holdings in shares of Clearwater Analytics by 11.3% during the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock worth $623,001,000 after purchasing an additional 2,366,715 shares during the period. Yorktown Management & Research Co Inc bought a new position in shares of Clearwater Analytics during the first quarter worth approximately $409,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Clearwater Analytics during the 4th quarter worth approximately $8,580,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Trading Up 2.9%

Shares of NYSE:CWAN traded up $0.59 on Friday, hitting $20.75. The company had a trading volume of 5,855,019 shares, compared to its average volume of 4,238,083. The firm's 50-day simple moving average is $20.82 and its two-hundred day simple moving average is $23.23. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.98 and a 1 year 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 firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 129.81, a P/E/G ratio of 5.26 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. The firm's revenue for the quarter was up 70.4% compared to the same quarter last year. Equities analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in 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. DA Davidson decreased their price target on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Zacks Research upgraded shares of Clearwater Analytics from a "strong sell" rating to a "hold" rating in a report on Thursday. 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 note on Wednesday, June 11th. Finally, The Goldman Sachs Group raised shares of 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, August 11th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.67.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total transaction of $420,750.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Souvik Das sold 10,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief technology officer directly owned 132,549 shares of the company's stock, valued at approximately $2,650,980. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 266,748 shares of company stock valued at $5,755,414. Company insiders own 3.31% of the company's stock.

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.