Millennium Management LLC Acquires 857,805 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Millennium Management LLC raised its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 189.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,310,674 shares of the company's stock after acquiring an additional 857,805 shares during the period. Millennium Management LLC owned approximately 0.53% of Clearwater Analytics worth $36,070,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock worth $163,867,000 after acquiring an additional 2,950,555 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock worth $202,931,000 after purchasing an additional 2,931,445 shares during the last quarter. Vanguard Group Inc. grew its position in Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company's stock worth $574,607,000 after purchasing an additional 2,455,844 shares in the last quarter. Norges Bank purchased a new stake in Clearwater Analytics in the 4th quarter valued at about $59,402,000. Finally, Blair William & Co. IL increased its stake in Clearwater Analytics by 3,835.2% in the 4th quarter. Blair William & Co. IL now owns 1,754,732 shares of the company's stock valued at $48,290,000 after buying an additional 1,710,141 shares during the last quarter. Institutional investors own 50.10% of the company's stock.

Insider Transactions at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $23.09, for a total value of $1,154,500.00. Following the completion of the transaction, the chief executive officer now directly owns 876,754 shares of the company's stock, valued at $20,244,249.86. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $26.58, for a total value of $497,046.00. Following the completion of the transaction, the chief financial officer now owns 358,502 shares of the company's stock, valued at approximately $9,528,983.16. The trade was a 4.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 204,175 shares of company stock worth $5,040,744. Insiders own 3.31% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. The Goldman Sachs Group started coverage on Clearwater Analytics in a research note on Monday. They set a "neutral" rating and a $26.00 price target for the company. UBS Group lifted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Piper Sandler dropped their price objective on Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $32.40.

Clearwater Analytics Trading Down 5.3%

Clearwater Analytics stock traded down $1.25 during mid-day trading on Wednesday, hitting $22.41. The company's stock had a trading volume of 3,239,480 shares, compared to its average volume of 2,329,009. The business has a 50 day moving average price of $24.17 and a 200-day moving average price of $27.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.63 and a 12 month high of $35.71. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 8.23 and a beta of 0.79.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The company had revenue of $126.86 million during the quarter, compared to analyst estimates of $125.11 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. Clearwater Analytics's revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS 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.