Clearwater Analytics Holdings, Inc. $CWAN Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Clearwater Analytics by 25.4% during the first quarter, now holding 498,609 shares valued at $13.36 million.
• The company's **latest quarterly earnings** revealed an EPS of $0.12, missing expectations, but still demonstrating a **70.4% increase in revenue** compared to the same quarter last year.
• Clearwater Analytics has received a mix of **upgrades and price target adjustments** from analysts, with Goldman Sachs raising its rating from "neutral" to "buy" and a target price of **$27.00**.

Algert Global LLC grew its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 498,609 shares of the company's stock after acquiring an additional 100,838 shares during the period. Algert Global LLC owned about 0.18% of Clearwater Analytics worth $13,363,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Clearwater Analytics by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock worth $623,001,000 after acquiring an additional 2,366,715 shares in the last quarter. Invesco Ltd. grew its holdings in Clearwater Analytics by 34.1% during the 1st quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock worth $152,930,000 after acquiring an additional 1,452,474 shares in the last quarter. Blair William & Co. IL grew its holdings in Clearwater Analytics by 44.4% during the 1st quarter. Blair William & Co. IL now owns 2,534,270 shares of the company's stock worth $67,918,000 after acquiring an additional 779,538 shares in the last quarter. Fred Alger Management LLC grew its holdings in Clearwater Analytics by 16.9% during the 4th quarter. Fred Alger Management LLC now owns 2,469,228 shares of the company's stock worth $67,953,000 after acquiring an additional 357,086 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Clearwater Analytics by 13.8% in the 4th quarter. Driehaus Capital Management LLC now owns 2,214,452 shares of the company's stock valued at $60,942,000 after buying an additional 268,601 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In other news, CFO James S. Cox sold 18,700 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total value of $420,750.00. Following the completion of the sale, the chief financial officer directly owned 348,964 shares of the company's stock, valued at approximately $7,851,690. This represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Subi Sethi sold 7,358 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $21.67, for a total transaction of $159,447.86. Following the completion of the sale, the insider directly owned 218,788 shares of the company's stock, valued at approximately $4,741,135.96. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,786 shares of company stock valued at $4,810,539. Company insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Performance

Clearwater Analytics stock traded up $1.1240 during midday trading on Friday, reaching $20.7240. 2,051,338 shares of the stock traded hands, compared to its average volume of 3,368,462. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $21.15 and a two-hundred day moving average price of $23.87. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 4.60 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.71.

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

Clearwater Analytics Company 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.