Geode Capital Management LLC Purchases 399,581 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Geode Capital Management boosted its stake in Clearwater Analytics by 6.5% in the fourth quarter, adding 399,581 shares and bringing its total holding to 6.59 million shares worth about $159 million.
• Clearwater Analytics reported quarterly EPS of $0.16, in line with estimates, while revenue rose 74.4% year over year to $221.23 million and topped analyst expectations.
• Wall Street sentiment remains cautious: the stock has a consensus rating of Hold with an average price target of $26.17, even as some analysts maintained neutral/sector perform views and one reiterated a sell rating.

Geode Capital Management LLC increased its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,590,192 shares of the company's stock after purchasing an additional 399,581 shares during the quarter. Geode Capital Management LLC owned approximately 2.25% of Clearwater Analytics worth $158,984,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. WCM Investment Management LLC bought a new stake in shares of Clearwater Analytics in the 3rd quarter valued at about $11,268,000. Principal Financial Group Inc. raised its holdings in shares of Clearwater Analytics by 76.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,380,238 shares of the company's stock valued at $42,892,000 after purchasing an additional 1,034,906 shares during the period. Truist Financial Corp raised its holdings in shares of Clearwater Analytics by 247.2% in the 3rd quarter. Truist Financial Corp now owns 62,551 shares of the company's stock valued at $1,127,000 after purchasing an additional 44,533 shares during the period. Vanguard Group Inc. raised its holdings in shares of Clearwater Analytics by 21.9% in the 3rd quarter. Vanguard Group Inc. now owns 33,261,349 shares of the company's stock valued at $599,370,000 after purchasing an additional 5,967,798 shares during the period. Finally, Gabelli Funds LLC bought a new stake in shares of Clearwater Analytics in the 4th quarter valued at about $7,916,000. 50.10% of the stock is owned by institutional investors.

Clearwater Analytics Stock Up 0.0%

Shares of CWAN opened at $24.39 on Thursday. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.73 and a 12 month high of $25.07. The firm's 50 day moving average is $24.11 and its 200-day moving average is $23.45. The stock has a market capitalization of $7.28 billion, a PE ratio of -135.49, a P/E/G ratio of 3.35 and a beta of 0.60. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.39.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $221.23 million for the quarter, compared to analyst estimates of $214.09 million. Clearwater Analytics had a negative net margin of 5.88% and a positive return on equity of 3.17%. The firm's revenue for the quarter was up 74.4% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. Equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CWAN shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Clearwater Analytics in a report on Friday, May 22nd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $24.55 price target (down from $36.00) on shares of Clearwater Analytics in a report on Wednesday, February 25th. Finally, DA Davidson reissued a "neutral" rating and issued a $24.55 price target on shares of Clearwater Analytics in a report on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $26.17.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $24.07, for a total transaction of $450,109.00. Following the sale, the chief financial officer owned 480,419 shares in the company, valued at approximately $11,563,685.33. This trade represents a 3.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Subi Sethi sold 19,858 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $23.80, for a total transaction of $472,620.40. Following the sale, the insider owned 388,256 shares in the company, valued at $9,240,492.80. This represents a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 194,332 shares of company stock worth $4,624,562 in the last three months. Company insiders own 3.31% of the company's stock.

About Clearwater Analytics

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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