Vanguard Group Inc. Has $623 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Vanguard Group Inc. boosted its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 11.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,246,312 shares of the company's stock after buying an additional 2,366,715 shares during the quarter. Vanguard Group Inc. owned 9.26% of Clearwater Analytics worth $623,001,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CWAN. Nvwm LLC acquired a new stake in shares of Clearwater Analytics in the 1st quarter valued at about $46,000. CWM LLC raised its stake in shares of Clearwater Analytics by 714.6% in the 1st quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after purchasing an additional 2,694 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Clearwater Analytics in the 4th quarter valued at about $121,000. Portside Wealth Group LLC acquired a new stake in shares of Clearwater Analytics in the 1st quarter valued at about $206,000. Finally, Norden Group LLC acquired a new stake in Clearwater Analytics during the first quarter worth about $232,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

NYSE CWAN traded down $0.13 during midday trading on Friday, hitting $19.24. The company had a trading volume of 3,865,235 shares, compared to its average volume of 4,914,365. 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 stock has a market cap of $5.63 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 4.53 and a beta of 0.73. The firm has a fifty day simple moving average of $21.48 and a two-hundred day simple moving average of $24.09. 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 quarterly earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $174.16 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The business's revenue for the quarter was up 70.4% on a year-over-year basis. Equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CWAN shares. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective on the stock in a research note on Monday, August 11th. Piper Sandler set a $27.00 price objective on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Oppenheimer dropped their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. DA Davidson dropped 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 note on Tuesday, August 12th. Finally, Wells Fargo & Company dropped their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $32.20.

Insider Activity

In related news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the completion of the transaction, the chief executive officer directly owned 895,663 shares of the company's stock, valued at $19,838,935.45. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen A. Corbet sold 12,634 shares of Clearwater Analytics stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total transaction of $298,920.44. Following the transaction, the director directly owned 14,498 shares of the company's stock, valued at $343,022.68. This represents a 46.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,107 shares of company stock worth $4,629,708 over the last ninety days. Corporate insiders own 3.31% of the company's stock.

About Clearwater Analytics

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.