Kayne Anderson Rudnick Investment Management LLC Decreases Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Kayne Anderson Rudnick Investment Management LLC has reduced its stake in Clearwater Analytics Holdings, Inc. by 9.0%, owning approximately 3.54% of the company’s shares valued at $269.13 million as of the latest SEC filing.
• Several institutional investors, including First Trust Advisors LP and Tower Research Capital LLC, have significantly increased their holdings in Clearwater Analytics, reflecting growing interest in the stock.
• Wall Street analysts remain optimistic about Clearwater Analytics, with an average rating of "Buy" and a price target of $32.67 following recent adjustments from various brokerages.

Kayne Anderson Rudnick Investment Management LLC lessened its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 9.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,042,284 shares of the company's stock after selling 992,743 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 3.54% of Clearwater Analytics worth $269,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nvwm LLC bought a new position in Clearwater Analytics during the 1st quarter valued at approximately $46,000. CWM LLC increased its position in Clearwater Analytics by 714.6% during the 1st quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after buying an additional 2,694 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Clearwater Analytics during the 4th quarter valued at approximately $121,000. Portside Wealth Group LLC bought a new position in Clearwater Analytics during the 1st quarter valued at approximately $206,000. Finally, Norden Group LLC bought a new position in Clearwater Analytics during the 1st quarter valued at approximately $232,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Insider Buying and Selling

In related news, CTO Souvik Das sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the sale, the chief technology officer directly owned 132,549 shares in the company, valued at approximately $2,650,980. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 46,962 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $20.12, for a total value of $944,875.44. Following the completion of the sale, the chief executive officer owned 895,663 shares in the company, valued at $18,020,739.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 266,748 shares of company stock worth $5,755,414. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN traded down $0.05 during mid-day trading on Friday, reaching $20.48. The stock had a trading volume of 1,547,856 shares, compared to its average volume of 3,408,294. 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 company has a market cap of $5.99 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 4.76 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.98 and a 1 year high of $35.71. The business's 50 day moving average price is $20.99 and its 200 day moving average price is $23.59.

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). The firm had revenue of $181.94 million during the quarter, compared to analysts' expectations of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.Clearwater Analytics's quarterly revenue was up 70.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Oppenheimer reduced 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. The Goldman Sachs Group raised Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Monday, August 11th. Finally, DA Davidson reduced their target price on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Clearwater Analytics currently has an average rating of "Buy" and a consensus price target of $32.67.

Clearwater Analytics Company 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.