M&T Bank Corp Has $233,000 Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

M&T Bank Corp lessened its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 88.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,672 shares of the company's stock after selling 66,726 shares during the period. M&T Bank Corp's holdings in Clearwater Analytics were worth $233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in shares of Clearwater Analytics by 26.3% in the fourth quarter. Victory Capital Management Inc. now owns 22,001 shares of the company's stock worth $605,000 after acquiring an additional 4,578 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Clearwater Analytics by 937.9% in the fourth quarter. HighTower Advisors LLC now owns 97,559 shares of the company's stock worth $2,685,000 after acquiring an additional 88,159 shares during the last quarter. Swiss National Bank boosted its stake in Clearwater Analytics by 23.8% during the fourth quarter. Swiss National Bank now owns 387,300 shares of the company's stock worth $10,658,000 after buying an additional 74,400 shares in the last quarter. Natixis Advisors LLC boosted its stake in Clearwater Analytics by 7.8% during the fourth quarter. Natixis Advisors LLC now owns 76,791 shares of the company's stock worth $2,113,000 after buying an additional 5,531 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Clearwater Analytics during the fourth quarter worth $285,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN opened at $21.50 on Friday. The stock has a market capitalization of $6.09 billion, a P/E ratio of 12.80, a P/E/G ratio of 4.34 and a beta of 0.74. Clearwater Analytics Holdings, Inc. has a 1-year low of $19.46 and a 1-year high of $35.71. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $22.61 and a two-hundred day moving average price of $25.12.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $126.86 million during the quarter, compared to analysts' expectations of $125.11 million. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The company's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. Equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction dated 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 directly owned 895,663 shares of the company's stock, valued at $19,838,935.45. This represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Subi Sethi sold 7,358 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $21.67, for a total value of $159,447.86. Following the completion of the sale, the insider directly owned 218,788 shares of the company's stock, valued at approximately $4,741,135.96. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,107 shares of company stock worth $5,844,208 over the last quarter. Insiders own 3.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CWAN shares. Wells Fargo & Company decreased their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Oppenheimer reduced their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of Clearwater Analytics in a research note on Monday, May 19th. They issued a "neutral" rating and a $26.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.90.

About Clearwater Analytics

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.

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