Graham Capital Management L.P. Raises Stock Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Graham Capital Management L.P. increased its stake in Clearwater Analytics by 337.7%, owning a total of 65,873 shares worth approximately $1.77 million after acquiring an additional 50,823 shares in Q1.
• Clearwater Analytics' stock has a consensus rating of "Buy" from nine analysts, with a consensus target price of $32.67, despite recent price adjustments by some firms.
• Insider selling was noted as CEO Sandeep Sahai sold 50,000 shares for around $1.11 million, reducing his holdings by 5.29%, while the stock is currently valued at $20.20.

Graham Capital Management L.P. grew its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 337.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,873 shares of the company's stock after acquiring an additional 50,823 shares during the quarter. Graham Capital Management L.P.'s holdings in Clearwater Analytics were worth $1,765,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nvwm LLC bought a new position in shares of Clearwater Analytics during the first quarter valued at $46,000. Quarry LP increased its holdings in Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company's stock worth $56,000 after buying an additional 1,900 shares in the last quarter. CWM LLC increased its holdings in Clearwater Analytics by 714.6% in the 1st quarter. CWM LLC now owns 3,071 shares of the company's stock worth $82,000 after buying an additional 2,694 shares in the last quarter. Portside Wealth Group LLC bought a new stake in Clearwater Analytics in the 1st quarter worth about $206,000. Finally, Norden Group LLC bought a new stake in Clearwater Analytics in the 1st quarter worth about $232,000. 50.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CWAN. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the company 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 for the company in a research note on Wednesday, June 11th. Zacks Research upgraded Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research note on Thursday. DA Davidson cut their price target on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company 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 price target for the company in a research note on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate 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 company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $20.12, for a total transaction of $944,875.44. Following the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at $18,020,739.56. This represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James S. Cox sold 11,275 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $19.42, for a total value of $218,960.50. Following the sale, the chief financial officer directly owned 343,964 shares in the company, valued at $6,679,780.88. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 266,748 shares of company stock valued at $5,755,414 in the last ninety days. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Price Performance

NYSE CWAN traded down $0.34 during trading hours on Monday, reaching $20.43. The company's stock had a trading volume of 742,030 shares, compared to its average volume of 3,433,303. The firm's 50-day moving average price is $20.82 and its 200-day moving average price is $23.23. 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 1 year low of $17.98 and a 1 year high of $35.71. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 5.26 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly 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 business had revenue of $181.94 million during the quarter, compared to analysts' expectations of $174.16 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The firm's revenue for the quarter was up 70.4% on a year-over-year basis. On average, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.