Hsbc Holdings PLC Boosts Stock Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Hsbc Holdings PLC increased its stake in Clearwater Analytics by 433.6%, owning 114,680 shares valued at approximately $3.03 million after purchasing an additional 93,187 shares in the first quarter.
• Insider trading activity saw CFO James S. Cox and CEO Sandeep Sahai sell a total of 58,237 shares, reducing their ownership stakes by 3.17% and 4.98% respectively.
• Research analysts have recently set a consensus price target of $32.67 for Clearwater Analytics, with several firms upgrading their ratings to “buy” despite recent fluctuations in stock price.

Hsbc Holdings PLC boosted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 433.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,680 shares of the company's stock after buying an additional 93,187 shares during the quarter. Hsbc Holdings PLC's holdings in Clearwater Analytics were worth $3,025,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CWAN. Apollon Wealth Management LLC boosted its stake in shares of Clearwater Analytics by 3.9% in the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock valued at $331,000 after buying an additional 459 shares during the period. Huntleigh Advisors Inc. raised its holdings in Clearwater Analytics by 1.9% in the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock valued at $863,000 after acquiring an additional 595 shares in the last quarter. Abacus FCF Advisors LLC raised its holdings in Clearwater Analytics by 2.8% in the first quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock valued at $674,000 after acquiring an additional 682 shares in the last quarter. Cerity Partners LLC lifted its stake in Clearwater Analytics by 7.3% in the first quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock worth $311,000 after acquiring an additional 793 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in 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 acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company's stock.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the business'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 value of $1,107,500.00. Following the completion of the sale, the chief executive officer owned 895,663 shares in the company, valued at approximately $19,838,935.45. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Subi Sethi sold 7,358 shares of Clearwater Analytics stock in a transaction 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 completion of the transaction, the insider directly owned 218,788 shares in the company, valued at $4,741,135.96. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 266,748 shares of company stock worth $5,755,414. 3.31% of the stock is currently owned by corporate insiders.

Clearwater Analytics Stock Performance

CWAN traded up $0.13 on Friday, reaching $20.66. The company had a trading volume of 3,329,745 shares, compared to its average volume of 5,245,859. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.98 and a 1 year high of $35.71. The stock has a market capitalization of $6.04 billion, a PE ratio of 128.31, a P/E/G ratio of 4.83 and a beta of 0.73. The stock has a 50-day moving average price of $20.98 and a 200-day moving average price of $23.54.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. During the same quarter last year, the firm posted $0.10 EPS. The firm's revenue for the quarter was up 70.4% on a year-over-year basis. As a group, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

CWAN has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective on the stock in a report on Monday, August 11th. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Oppenheimer lowered their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Finally, DA Davidson dropped their price objective on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $32.67.

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.