Deutsche Bank AG Sells 212,577 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Deutsche Bank AG reduced its stake in Clearwater Analytics Holdings by 46.4%, selling 212,577 shares to hold 245,597 shares valued at approximately $6.58 million.
• Institutional investors collectively own 50.10% of Clearwater Analytics, with significant increases from firms like Vanguard Group and Brown Advisory Inc.
• Analysts maintain a generally positive outlook for Clearwater Analytics, with an average rating of "Buy" and a target price of $32.20.

Deutsche Bank AG trimmed its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 46.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,597 shares of the company's stock after selling 212,577 shares during the quarter. Deutsche Bank AG owned about 0.10% of Clearwater Analytics worth $6,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Apollon Wealth Management LLC boosted its holdings in shares of Clearwater Analytics by 3.9% during the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock worth $331,000 after buying an additional 459 shares during the period. Huntleigh Advisors Inc. boosted its holdings in shares of Clearwater Analytics by 1.9% during the 1st quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock worth $863,000 after buying an additional 595 shares during the period. Abacus FCF Advisors LLC boosted its holdings in shares of Clearwater Analytics by 2.8% during the 1st quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock worth $674,000 after buying an additional 682 shares during the period. Cerity Partners LLC boosted its holdings in shares of Clearwater Analytics by 7.3% during the 1st quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock worth $311,000 after buying an additional 793 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Clearwater Analytics by 2.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company's stock worth $1,107,000 after buying an additional 900 shares during the period. 50.10% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Subi Sethi sold 7,358 shares of Clearwater Analytics stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $159,447.86. Following the transaction, the insider owned 218,788 shares of the company's stock, valued at $4,741,135.96. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Souvik Das sold 10,000 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the chief technology officer directly owned 132,549 shares in the company, valued at $2,650,980. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,786 shares of company stock worth $4,810,539 over the last quarter. 3.31% of the stock is owned by insiders.

Analyst Ratings Changes

CWAN has been the subject of several recent analyst reports. DA Davidson decreased their price objective on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Oppenheimer decreased their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a research note on Monday, August 11th. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $32.67.

Clearwater Analytics Trading Up 0.1%

Shares of NYSE:CWAN traded up $0.0260 during trading on Thursday, hitting $19.5760. 4,113,600 shares of the company's stock were exchanged, compared to its average volume of 4,900,554. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.98 and a 1-year high of $35.71. The firm has a 50-day moving average price of $21.15 and a two-hundred day moving average price of $23.87. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. The firm has a market cap of $5.73 billion, a P/E ratio of 12.31, a PEG ratio of 4.60 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The business had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm's quarterly revenue was up 70.4% compared to the same quarter last year. Equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

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.