Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Bought by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments LLC increased its holdings in Clearwater Analytics by 48.6%, owning 909,429 shares valued at approximately $24.37 million as of the end of the 1st quarter.
• Several institutional investors notably boosted their stakes, with Invesco Ltd. increasing its ownership by 34.1% and Townsquare Capital LLC significantly raising theirs by 107.5%.
• Analysts have mixed views on Clearwater Analytics, with price targets ranging from $26.00 to $36.00, and a consensus rating of "Moderate Buy."

Zevenbergen Capital Investments LLC raised its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 48.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 909,429 shares of the company's stock after purchasing an additional 297,414 shares during the period. Zevenbergen Capital Investments LLC owned about 0.32% of Clearwater Analytics worth $24,373,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Invesco Ltd. boosted its stake in shares of Clearwater Analytics by 34.1% in the first 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 during the last quarter. Townsquare Capital LLC boosted its stake in shares of Clearwater Analytics by 107.5% in the first quarter. Townsquare Capital LLC now owns 89,084 shares of the company's stock worth $2,387,000 after acquiring an additional 46,154 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Clearwater Analytics in the first quarter worth approximately $1,388,000. Swiss National Bank boosted its stake in shares of Clearwater Analytics by 6.9% in the first quarter. Swiss National Bank now owns 414,100 shares of the company's stock worth $11,098,000 after acquiring an additional 26,800 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of Clearwater Analytics in the first quarter worth approximately $4,054,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Tuesday, July 15th. The stock was 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. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction on Monday, July 14th. The shares were sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at $19,838,935.45. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 258,107 shares of company stock valued at $5,844,208. Insiders own 3.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CWAN shares. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 price objective on the stock. Oppenheimer reduced their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 11th. Wells Fargo & Company reduced their price objective on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group initiated coverage on Clearwater Analytics in a research report on Monday, May 19th. They set a "neutral" rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $31.90.

Clearwater Analytics Price Performance

NYSE:CWAN opened at $19.75 on Friday. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71. The company has a quick ratio of 5.09, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $5.59 billion, a P/E ratio of 12.42, a P/E/G ratio of 3.94 and a beta of 0.73. The stock's fifty day moving average is $21.89 and its two-hundred day moving average is $24.41.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its 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 net margin of 73.74% and a return on equity of 3.23%. The business had revenue of $181.94 million during the quarter, compared to analysts' expectations of $174.16 million. During the same quarter in the prior year, the firm earned $0.10 EPS. Clearwater Analytics's revenue for the quarter was up 70.4% compared to the same quarter last year. Equities analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

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.

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