Evolutionary Tree Capital Management LLC Makes New $2.27 Million Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Key Points

• Evolutionary Tree Capital Management LLC has invested approximately $2.27 million in Clearwater Analytics Holdings, acquiring 84,535 shares, which now represents about 2.6% of its portfolio.
• Clearwater Analytics has attracted interest from several large investors, with 50.10% of the company's stock owned by institutional investors.
• JPMorgan Chase & Co. has initiated coverage on Clearwater Analytics with an "overweight" rating and a target price of $28.00, contributing to an overall average target price of $31.90 among analysts.

Evolutionary Tree Capital Management LLC purchased a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 84,535 shares of the company's stock, valued at approximately $2,266,000. Clearwater Analytics makes up approximately 2.6% of Evolutionary Tree Capital Management LLC's portfolio, making the stock its 19th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in CWAN. Brown Advisory Inc. boosted its holdings in Clearwater Analytics by 15,661.6% during the first quarter. Brown Advisory Inc. now owns 1,407,040 shares of the company's stock worth $37,709,000 after purchasing an additional 1,398,113 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Clearwater Analytics by 394.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,507,900 shares of the company's stock valued at $41,497,000 after acquiring an additional 1,202,900 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Clearwater Analytics by 369.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,481,582 shares of the company's stock worth $40,773,000 after acquiring an additional 1,166,139 shares during the period. Cubist Systematic Strategies LLC bought a new position in Clearwater Analytics in the 4th quarter valued at $30,375,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Clearwater Analytics during the 4th quarter valued at $29,124,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Price Performance

NYSE CWAN traded up $0.09 on Wednesday, reaching $20.48. 5,649,487 shares of the company's stock traded hands, compared to its average volume of 3,696,962. The stock has a market cap of $5.80 billion, a PE ratio of 119.94, a P/E/G ratio of 4.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.09 and a quick ratio of 5.09. Clearwater Analytics Holdings, Inc. has a 12 month low of $19.93 and a 12 month high of $35.71. The stock has a 50-day simple moving average of $22.06 and a 200 day simple moving average of $24.59.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CWAN. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 target price for the company. Wells Fargo & Company cut their price target 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. Oppenheimer cut their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. 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 target price on the stock. Finally, Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Clearwater Analytics currently has an average rating of "Moderate Buy" and a consensus target price of $31.90.

Insider Buying and Selling

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the transaction, the chief executive officer owned 895,663 shares in the company, valued at approximately $19,838,935.45. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total value of $420,750.00. Following the transaction, the chief financial officer directly owned 348,964 shares of the company's stock, valued at $7,851,690. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,107 shares of company stock valued at $5,844,208 over the last ninety days. Corporate insiders own 3.31% of the company's stock.

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.