Quantbot Technologies LP Sells 74,475 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

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Quantbot Technologies LP cut its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 29.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,861 shares of the company's stock after selling 74,475 shares during the quarter. Quantbot Technologies LP owned approximately 0.06% of Clearwater Analytics worth $4,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of Clearwater Analytics by 7.7% during the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company's stock valued at $171,866,000 after acquiring an additional 458,444 shares in the last quarter. Northern Trust Corp increased its position in Clearwater Analytics by 6.8% during the 1st quarter. Northern Trust Corp now owns 2,075,355 shares of the company's stock valued at $55,620,000 after purchasing an additional 132,891 shares during the period. Versor Investments LP bought a new position in Clearwater Analytics in the 1st quarter worth $415,000. Algert Global LLC lifted its position in shares of Clearwater Analytics by 25.4% in the 1st quarter. Algert Global LLC now owns 498,609 shares of the company's stock worth $13,363,000 after purchasing an additional 100,838 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of Clearwater Analytics by 165.9% during the 1st quarter. Raymond James Financial Inc. now owns 1,979,061 shares of the company's stock valued at $53,038,000 after purchasing an additional 1,234,791 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors.

Clearwater Analytics Stock Performance

Shares of NYSE CWAN traded up $1.2390 during midday trading on Friday, hitting $20.8390. 4,962,326 shares of the company's stock traded hands, compared to its average volume of 4,861,539. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.98 and a 1 year high of $35.71. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 4.61 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a fifty day moving average of $21.13 and a 200 day moving average of $23.82.

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

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at $19,838,935.45. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Souvik Das sold 10,000 shares of Clearwater Analytics stock in a transaction on Wednesday, August 20th. The shares were 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 in the company, valued at approximately $2,650,980. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,786 shares of company stock valued at $4,810,539. Company 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.