Clearwater Analytics Holdings, Inc. $CWAN Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Clearwater Analytics by 7.7%, owning 6,412,929 shares valued at approximately $171.87 million.
• Clearwater Analytics reported a net margin of 73.74% with a revenue increase of 70.4% year-over-year, despite missing earnings per share estimates.
• Analysts currently have a consensus rating of "Buy" for Clearwater Analytics, with a target price averaging $32.67.

Wellington Management Group LLP lifted its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 7.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,412,929 shares of the company's stock after buying an additional 458,444 shares during the quarter. Wellington Management Group LLP owned approximately 2.26% of Clearwater Analytics worth $171,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CWAN. Vanguard Group Inc. grew its holdings in Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after purchasing an additional 2,366,715 shares during the period. Invesco Ltd. grew its holdings in Clearwater Analytics by 34.1% in the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock valued at $152,930,000 after purchasing an additional 1,452,474 shares during the period. Blair William & Co. IL grew its holdings in Clearwater Analytics by 44.4% in the first quarter. Blair William & Co. IL now owns 2,534,270 shares of the company's stock valued at $67,918,000 after purchasing an additional 779,538 shares during the period. Fred Alger Management LLC grew its holdings in Clearwater Analytics by 16.9% in the fourth quarter. Fred Alger Management LLC now owns 2,469,228 shares of the company's stock valued at $67,953,000 after purchasing an additional 357,086 shares during the period. Finally, Driehaus Capital Management LLC grew its holdings in Clearwater Analytics by 13.8% in the fourth quarter. Driehaus Capital Management LLC now owns 2,214,452 shares of the company's stock valued at $60,942,000 after purchasing an additional 268,601 shares during the period. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports 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 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 target price for the company in a report on Monday, August 11th. Oppenheimer reduced their price target 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. Finally, DA Davidson reduced 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $32.67.

Clearwater Analytics Stock Performance

CWAN stock traded down $0.55 during trading on Tuesday, hitting $19.98. 8,294,111 shares of the company's stock traded hands, compared to its average volume of 4,938,406. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71. The stock has a fifty day moving average price of $21.05 and a two-hundred day moving average price of $23.67. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 4.83 and a beta of 0.73.

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

Insider Activity

In other news, 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 transaction of $420,750.00. Following the completion of the transaction, the chief financial officer owned 348,964 shares in the company, valued at approximately $7,851,690. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Souvik Das sold 10,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the chief technology officer owned 132,549 shares of the company's stock, valued at $2,650,980. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,748 shares of company stock worth $5,755,414 over the last ninety days. 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.