Bank of America Corp DE Acquires 229,524 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Bank of America Corp DE increased its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 39.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 809,924 shares of the company's stock after acquiring an additional 229,524 shares during the period. Bank of America Corp DE owned approximately 0.33% of Clearwater Analytics worth $22,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in Clearwater Analytics in the 4th quarter valued at approximately $5,929,000. Ameriprise Financial Inc. lifted its stake in Clearwater Analytics by 38.1% in the 4th quarter. Ameriprise Financial Inc. now owns 741,498 shares of the company's stock valued at $20,406,000 after buying an additional 204,563 shares in the last quarter. Algert Global LLC lifted its stake in Clearwater Analytics by 274.2% in the 4th quarter. Algert Global LLC now owns 397,771 shares of the company's stock valued at $10,947,000 after buying an additional 291,480 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Clearwater Analytics in the 4th quarter valued at approximately $121,000. Finally, PDT Partners LLC purchased a new stake in Clearwater Analytics in the 4th quarter valued at approximately $2,831,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Insider Activity

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 4,141 shares of the firm'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 owns 7,902 shares of the company's stock, valued at $218,490.30. This trade represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen A. Corbet sold 12,634 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the sale, the director now directly owns 14,498 shares in the company, valued at approximately $343,022.68. This trade represents a 46.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,175 shares of company stock worth $5,040,744 over the last ninety days. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Down 0.8%

NYSE CWAN traded down $0.17 during trading hours on Friday, hitting $22.01. The company had a trading volume of 2,102,750 shares, compared to its average volume of 2,353,868. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.63 and a fifty-two week high of $35.71. The company has a market capitalization of $6.24 billion, a price-to-earnings 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 current ratio of 4.66 and a quick ratio of 4.66. The firm's 50 day moving average is $23.90 and its 200 day moving average is $27.19.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly 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 firm had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. During the same period in the prior year, the firm earned $0.10 EPS. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. Sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CWAN shares. Morgan Stanley reissued an "overweight" rating and set a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. The Goldman Sachs Group started coverage on Clearwater Analytics in a research note on Monday, May 19th. They set a "neutral" rating and a $26.00 price target on the stock. JPMorgan Chase & Co. started coverage on Clearwater Analytics in a research note on Friday, April 25th. They set an "overweight" rating and a $28.00 price target on the stock. UBS Group increased their price target on Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company reduced their price target on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.40.

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.