M&T Bank Corp Reduces Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

M&T Bank Corp lessened its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 88.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CWAN. Huntleigh Advisors Inc. boosted its stake in Clearwater Analytics by 1.9% during the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock worth $863,000 after buying an additional 595 shares during the period. Abacus FCF Advisors LLC boosted its stake in shares of Clearwater Analytics by 2.8% during the first quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock valued at $674,000 after purchasing an additional 682 shares during the period. Summit Creek Advisors LLC boosted its stake in shares of Clearwater Analytics by 0.3% during the fourth quarter. Summit Creek Advisors LLC now owns 285,045 shares of the company's stock valued at $7,844,000 after purchasing an additional 833 shares during the period. Bullseye Asset Management LLC boosted its stake in shares of Clearwater Analytics by 1.1% during the fourth quarter. Bullseye Asset Management LLC now owns 112,181 shares of the company's stock valued at $3,087,000 after purchasing an additional 1,181 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Clearwater Analytics by 5.3% during the fourth quarter. Prudential Financial Inc. now owns 25,960 shares of the company's stock valued at $792,000 after purchasing an additional 1,312 shares during the period. Institutional investors own 50.10% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CWAN. Oppenheimer lowered their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. Wells Fargo & Company decreased their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group began coverage on shares of Clearwater Analytics in a research report on Monday, May 19th. They set a "neutral" rating and a $26.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 price target for the company. Finally, Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. 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, Clearwater Analytics currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.90.

Insider Buying and Selling

In related news, Director Kathleen A. Corbet sold 12,634 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total value of $298,920.44. Following the completion of the transaction, the director directly owned 14,498 shares of the company's stock, valued at $343,022.68. This represents a 46.56% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on 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 transaction, the insider directly owned 218,788 shares of the company's stock, valued at $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. Over the last quarter, insiders have sold 258,107 shares of company stock worth $5,844,208. 3.31% of the stock is owned by corporate insiders.

Clearwater Analytics Trading Up 0.5%

Shares of CWAN traded up $0.11 during midday trading on Tuesday, reaching $21.23. The company had a trading volume of 3,171,010 shares, compared to its average volume of 2,660,378. Clearwater Analytics Holdings, Inc. has a 1-year low of $19.46 and a 1-year high of $35.71. The stock has a market cap of $6.01 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 4.22 and a beta of 0.74. The firm has a 50 day simple moving average of $22.61 and a 200-day simple moving average of $25.09. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.04.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The firm had revenue of $126.86 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. Research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

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.