Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,365,651 shares of the company's stock after selling 40,684 shares during the quarter. New York State Common Retirement Fund owned approximately 0.54% of Clearwater Analytics worth $36,599,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Clearwater Analytics by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company's stock worth $574,607,000 after buying an additional 2,455,844 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Clearwater Analytics by 66.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock valued at $202,931,000 after acquiring an additional 2,931,445 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock valued at $163,867,000 after purchasing an additional 2,950,555 shares during the period. JPMorgan Chase & Co. increased its position in Clearwater Analytics by 52.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company's stock worth $126,972,000 after purchasing an additional 1,585,869 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Clearwater Analytics by 9.0% during the fourth quarter. Invesco Ltd. now owns 4,253,863 shares of the company's stock worth $117,066,000 after purchasing an additional 352,201 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Stock Down 2.0%

Clearwater Analytics stock traded down $0.45 during mid-day trading on Thursday, reaching $21.76. 7,216,917 shares of the company's stock were exchanged, compared to its average volume of 2,637,537. The company has a fifty day moving average of $22.68 and a 200-day moving average of $25.20. The company has a market cap of $6.16 billion, a P/E ratio of 12.95, a P/E/G ratio of 4.41 and a beta of 0.74. 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 Holdings, Inc. has a twelve month low of $19.18 and a twelve month high of $35.71.

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

Insider Buying and Selling

In other news, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total value of $420,750.00. Following the sale, the chief financial officer directly owned 348,964 shares in the company, valued at approximately $7,851,690. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the transaction, the chief executive officer directly owned 895,663 shares in the company, valued at $19,838,935.45. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,107 shares of company stock valued at $5,844,208. Corporate insiders own 3.31% of the company's stock.

Analyst Ratings Changes

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

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.