Clearwater Analytics Holdings, Inc. $CWAN Shares Bought by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. significantly increased its stake in Clearwater Analytics by 175.4%, owning over 2 million shares valued at approximately $54.7 million.
• Clearwater Analytics reported a quarterly revenue increase of 70.4% compared to the previous year, although it missed EPS estimates by $0.01.
• Analysts have upgraded Clearwater Analytics, with Goldman Sachs raising its rating to "buy" and setting a target price of $27.00 for the company's stock.

Ameriprise Financial Inc. grew its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 175.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,042,023 shares of the company's stock after purchasing an additional 1,300,525 shares during the period. Ameriprise Financial Inc. owned about 0.72% of Clearwater Analytics worth $54,725,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Monashee Investment Management LLC purchased a new stake in Clearwater Analytics during the first quarter worth $2,814,000. CW Advisors LLC acquired a new position in shares of Clearwater Analytics in the first quarter worth about $2,938,000. Capital Fund Management S.A. raised its position in shares of Clearwater Analytics by 18.8% in the first quarter. Capital Fund Management S.A. now owns 192,624 shares of the company's stock worth $5,162,000 after acquiring an additional 30,517 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Clearwater Analytics by 433.6% during the 1st quarter. Hsbc Holdings PLC now owns 114,680 shares of the company's stock worth $3,025,000 after acquiring an additional 93,187 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Clearwater Analytics during the 1st quarter valued at about $56,648,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock opened at $20.19 on Thursday. The stock has a market capitalization of $5.90 billion, a P/E ratio of 12.70, a PEG ratio of 4.70 and a beta of 0.73. The business has a 50 day simple moving average of $21.02 and a two-hundred day simple moving average of $23.65. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm had revenue of $181.94 million for the quarter, compared to analysts' expectations of $174.16 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The firm's revenue for the quarter was up 70.4% compared to the same quarter last year. As a group, analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group raised 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 cut 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. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Finally, DA Davidson decreased their target price on 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, Based on data from MarketBeat, Clearwater Analytics has an average rating of "Buy" and an average target price of $32.67.

Insider Transactions at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 46,962 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $20.12, for a total value of $944,875.44. Following the completion of the sale, the chief executive officer directly owned 895,663 shares in the company, valued at $18,020,739.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James S. Cox sold 11,275 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $19.42, for a total transaction of $218,960.50. Following the completion of the transaction, the chief financial officer directly owned 343,964 shares in the company, valued at approximately $6,679,780.88. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 266,748 shares of company stock valued at $5,755,414 over the last 90 days. 3.31% of the stock is currently owned by corporate insiders.

Clearwater Analytics 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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