Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Acquired by Millennium Management LLC

Millennium Management LLC grew its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 189.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,310,674 shares of the company's stock after buying an additional 857,805 shares during the quarter. Millennium Management LLC owned 0.53% of Clearwater Analytics worth $36,070,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Clearwater Analytics by 3.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company's stock worth $469,000 after buying an additional 502 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Clearwater Analytics by 11.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company's stock worth $142,000 after buying an additional 521 shares during the period. Summit Creek Advisors LLC lifted its holdings in shares of Clearwater Analytics by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 285,045 shares of the company's stock worth $7,844,000 after buying an additional 833 shares during the period. Bullseye Asset Management LLC lifted its holdings in shares of Clearwater Analytics by 1.1% in the 4th quarter. Bullseye Asset Management LLC now owns 112,181 shares of the company's stock worth $3,087,000 after buying an additional 1,181 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Clearwater Analytics by 5.8% in the 4th quarter. Truist Financial Corp now owns 21,915 shares of the company's stock worth $603,000 after buying an additional 1,209 shares during the period. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Down 0.8%

NYSE:CWAN traded down $0.17 during mid-day trading on Friday, hitting $22.01. 2,102,750 shares of the company's stock traded hands, compared to its average volume of 2,347,410. The company has a fifty day moving average of $23.90 and a 200 day moving average of $27.20. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.63 and a twelve month high of $35.71. The company has a market capitalization of $6.24 billion, a P/E ratio of 13.26, a P/E/G ratio of 8.23 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

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

Analysts Set New Price Targets

CWAN has been the subject of a number of analyst reports. UBS Group upped their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Royal Bank of Canada upped their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Piper Sandler decreased their price objective on Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group initiated coverage on Clearwater Analytics in a research note on Monday. They set a "neutral" rating and a $26.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $32.40.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $23.09, for a total transaction of $1,154,500.00. Following 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Scott Stanley Erickson sold 4,141 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.65, for a total value of $114,498.65. Following the transaction, the executive now directly owns 7,902 shares in the company, valued at $218,490.30. This represents a 34.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,175 shares of company stock valued at $5,040,744 in 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.