GABELLI & Co INVESTMENT ADVISERS INC. Acquires New Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• GABELLI & Co disclosed a new fourth-quarter stake in Clearwater Analytics, buying 267,800 shares worth about $6.46 million. The position represents about 1% of its portfolio and 0.09% of Clearwater Analytics.
• Analysts have become more cautious on CWAN, with several firms lowering price targets to $24.55 and UBS downgrading the stock to neutral. The consensus rating is currently Hold, with an average price target of $26.17.
• Clearwater Analytics reported quarterly EPS of $0.16, matching estimates, while revenue rose 74.4% year over year to $221.23 million. However, insiders have been selling shares recently, including CTO Souvik Das and insider Subi Sethi.

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 267,800 shares of the company's stock, valued at approximately $6,459,000. Clearwater Analytics comprises about 1.0% of GABELLI & Co INVESTMENT ADVISERS INC.'s portfolio, making the stock its 27th biggest holding. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.09% of Clearwater Analytics at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CWAN. Versant Capital Management Inc increased its stake in Clearwater Analytics by 189.3% in the third quarter. Versant Capital Management Inc now owns 1,565 shares of the company's stock valued at $28,000 after acquiring an additional 1,024 shares during the last quarter. Essex Investment Management Co. LLC boosted its position in Clearwater Analytics by 54.9% in the third quarter. Essex Investment Management Co. LLC now owns 1,806 shares of the company's stock valued at $33,000 after buying an additional 640 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Clearwater Analytics by 627.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,375 shares of the company's stock valued at $33,000 after buying an additional 1,186 shares in the last quarter. Danske Bank A S bought a new stake in shares of Clearwater Analytics during the third quarter worth $36,000. Finally, Private Trust Co. NA increased its holdings in shares of Clearwater Analytics by 643.3% during the fourth quarter. Private Trust Co. NA now owns 1,546 shares of the company's stock worth $37,000 after buying an additional 1,338 shares in the last quarter. 50.10% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on CWAN. Royal Bank Of Canada reiterated a "sector perform" rating and set a $24.55 price target (down from $36.00) on shares of Clearwater Analytics in a report on Wednesday, February 25th. UBS Group downgraded shares of Clearwater Analytics from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $30.00 to $24.55 in a report on Monday, January 26th. DA Davidson reiterated a "neutral" rating and set a $24.55 price target on shares of Clearwater Analytics in a report on Thursday, February 19th. Weiss Ratings downgraded shares of Clearwater Analytics from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, February 23rd. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $24.55 price target (down from $27.00) on shares of Clearwater Analytics in a report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $26.17.

Insiders Place Their Bets

In related news, CTO Souvik Das sold 10,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $24.34, for a total value of $243,400.00. Following the completion of the sale, the chief technology officer directly owned 190,109 shares in the company, valued at $4,627,253.06. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Subi Sethi sold 19,858 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $23.80, for a total value of $472,620.40. Following the completion of the sale, the insider owned 388,256 shares of the company's stock, valued at $9,240,492.80. The trade was a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 780,842 shares of company stock valued at $18,363,380 over the last ninety days. 3.31% of the stock is currently owned by corporate insiders.

Clearwater Analytics Stock Down 0.0%

Shares of NYSE:CWAN opened at $24.35 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.26 and a current ratio of 2.26. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.73 and a 52-week high of $25.07. The company has a market capitalization of $7.27 billion, a PE ratio of -135.24, a price-to-earnings-growth ratio of 3.52 and a beta of 0.61. The company has a fifty day moving average of $23.84 and a 200-day moving average of $22.85.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. The business had revenue of $221.23 million during the quarter, compared to the consensus estimate of $214.09 million. Clearwater Analytics had a positive return on equity of 3.17% and a negative net margin of 5.88%.Clearwater Analytics's quarterly revenue was up 74.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. On average, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.35 EPS for the current fiscal year.

Clearwater Analytics Company Profile

Clearwater Analytics LLC is a global provider of web-based investment portfolio accounting, reporting, and analytics solutions. The company's software-as-a-service platform automates complex processes involved in investment data aggregation, reconciliation, valuation, and regulatory reporting. Serving institutional investors—including insurers, asset managers, corporations, government entities, and asset owners—Clearwater Analytics enables clients to optimize performance visibility, risk management, and operational efficiency.

Founded in 2004 and headquartered in Boise, Idaho, Clearwater Analytics has grown its global footprint with offices across North America, Europe, and the Asia-Pacific region.

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