Clearwater Analytics Holdings, Inc. $CWAN Stock Holdings Lifted by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Clearwater Analytics Holdings by 25.8%, acquiring an additional 23,630 shares, bringing its total holdings to 115,179 shares worth $2.88 million.
• Various institutional investors have taken new positions or increased their stakes in Clearwater Analytics, with 50.10% of the stock currently owned by institutional investors.
• Despite reporting disappointing earnings of $0.12 per share, Clearwater Analytics saw a significant revenue increase of 70.4% year-over-year, reaching $181.94 million.

LPL Financial LLC raised its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 25.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,179 shares of the company's stock after purchasing an additional 23,630 shares during the period. LPL Financial LLC's holdings in Clearwater Analytics were worth $2,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Clearwater Analytics in the 1st quarter worth approximately $314,000. Yorktown Management & Research Co Inc bought a new position in shares of Clearwater Analytics in the 1st quarter worth approximately $409,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $8,580,000. GAMMA Investing LLC raised its position in shares of Clearwater Analytics by 2,644.7% in the 1st quarter. GAMMA Investing LLC now owns 35,242 shares of the company's stock worth $944,000 after acquiring an additional 33,958 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Clearwater Analytics by 10.0% in the 1st quarter. Rhumbline Advisers now owns 259,291 shares of the company's stock worth $6,949,000 after buying an additional 23,644 shares during the last quarter. Institutional investors own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Oppenheimer cut their price target on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. JPMorgan Chase & Co. began coverage on Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target on the stock. DA Davidson cut their target price on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a research note on Monday, August 11th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat, Clearwater Analytics has a consensus rating of "Buy" and a consensus price target of $32.67.

Clearwater Analytics Trading Up 0.3%

Shares of CWAN traded up $0.0670 on Thursday, hitting $19.6170. 2,004,093 shares of the stock traded hands, compared to its average volume of 3,364,269. 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 $5.74 billion, a P/E ratio of 12.33, a P/E/G ratio of 4.66 and a beta of 0.73. The stock's 50 day moving average is $21.22 and its two-hundred day moving average is $23.94. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.98 and a 1 year high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $181.94 million for the quarter, compared to analysts' expectations of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The business's revenue for the quarter was up 70.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. As a group, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $19.42, for a total transaction of $218,960.50. Following the sale, the chief financial officer directly owned 343,964 shares in the company, valued at approximately $6,679,780.88. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Souvik Das sold 5,273 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $21.67, for a total transaction of $114,265.91. Following the sale, the chief technology officer owned 142,549 shares in the company, valued at $3,089,036.83. This trade represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,748 shares of company stock worth $4,549,748 over the last 90 days. Corporate insiders own 3.31% of the company's stock.

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.