Conestoga Capital Advisors LLC Sells 28,025 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Conestoga Capital Advisors LLC trimmed its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,722,552 shares of the company's stock after selling 28,025 shares during the period. Clearwater Analytics comprises 2.7% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 9th biggest holding. Conestoga Capital Advisors LLC owned approximately 2.68% of Clearwater Analytics worth $180,164,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CWAN. Arcadia Investment Management Corp MI purchased a new position in Clearwater Analytics in the 4th quarter valued at approximately $57,000. Aster Capital Management DIFC Ltd acquired a new stake in Clearwater Analytics during the 4th quarter valued at $82,000. OFI Invest Asset Management acquired a new stake in Clearwater Analytics during the 4th quarter valued at $88,000. Assetmark Inc. acquired a new stake in Clearwater Analytics during the 4th quarter valued at $111,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Clearwater Analytics during the 4th quarter valued at $116,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction on Friday, June 13th. The stock was sold at an average price of $22.25, for a total value of $1,112,500.00. Following the transaction, the chief executive officer now owns 876,754 shares in the company, valued at approximately $19,507,776.50. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen A. Corbet sold 12,634 shares of Clearwater Analytics stock in a transaction 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 completion of the transaction, the director now owns 14,498 shares in the company, valued at $343,022.68. The trade was a 46.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,034 shares of company stock worth $4,629,774. 3.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CWAN has been the topic of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 target price on the stock. Wells Fargo & Company lowered their target price on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler lowered their target price 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, Oppenheimer lowered their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $32.00.

Clearwater Analytics Trading Down 1.0%

Shares of CWAN stock traded down $0.21 during mid-day trading on Thursday, hitting $21.82. 3,517,147 shares of the company's stock were exchanged, compared to its average volume of 2,527,408. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.63 and a fifty-two week high of $35.71. The stock has a 50-day simple moving average of $22.93 and a two-hundred day simple moving average of $26.11. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 4.25 and a beta of 0.77.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The business had revenue of $126.86 million for the quarter, compared to analysts' expectations of $125.11 million. During the same quarter last year, the firm earned $0.10 earnings per share. The business's revenue was up 23.5% on a year-over-year basis. Equities analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal 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.