Next Century Growth Investors LLC Acquires 279,920 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Next Century Growth Investors LLC increased its stake in Clearwater Analytics Holdings, Inc. by 113.4%, owning 526,761 shares valued at approximately $14.1 million after acquiring an additional 279,920 shares in Q1.
• Clearwater Analytics has received a consensus "Buy" rating from analysts with a target price of $32.67, despite some recent adjustments, including a downgrade from DA Davidson.
• Insiders, including CTO and CFO, have sold a combined total of over $5.7 million in stock over the last three months, which may indicate a shift in confidence regarding the company's short-term prospects.

Next Century Growth Investors LLC boosted its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 113.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 526,761 shares of the company's stock after acquiring an additional 279,920 shares during the period. Clearwater Analytics accounts for approximately 1.3% of Next Century Growth Investors LLC's portfolio, making the stock its 25th largest holding. Next Century Growth Investors LLC owned approximately 0.19% of Clearwater Analytics worth $14,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zevenbergen Capital Investments LLC raised its stake in Clearwater Analytics by 48.6% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company's stock valued at $24,373,000 after acquiring an additional 297,414 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Clearwater Analytics in the 1st quarter valued at about $314,000. Vanguard Group Inc. raised its stake in Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after acquiring an additional 2,366,715 shares during the period. Yorktown Management & Research Co Inc bought a new stake in Clearwater Analytics in the 1st quarter valued at about $409,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Clearwater Analytics in the 4th quarter valued at about $8,580,000. 50.10% of the stock is currently owned by institutional investors.

Insider Activity at Clearwater Analytics

In related news, CTO Souvik Das sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the chief technology officer directly owned 132,549 shares in the company, valued at approximately $2,650,980. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total transaction of $420,750.00. Following the completion of the transaction, the chief financial officer owned 348,964 shares in the company, valued at approximately $7,851,690. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 266,748 shares of company stock valued at $5,755,414 in the last ninety days. 3.31% of the stock is currently owned by company insiders.

Clearwater Analytics Price Performance

Shares of CWAN stock traded up $0.13 during trading on Monday, hitting $20.66. The company had a trading volume of 3,329,745 shares, compared to its average volume of 5,233,287. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The stock's 50-day moving average is $20.98 and its two-hundred day moving average is $23.49. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 4.86 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71.

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

Wall Street Analyst Weigh In

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