Norges Bank Invests $184.27 Million in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Norges Bank initiated a new position in Clearwater Analytics, buying 7.64 million shares valued at about $184.27 million, equal to roughly 2.61% of the company.
• Other major institutional investors also boosted their stakes, and hedge funds/institutions now own about 50.10% of Clearwater Analytics shares.
• Clearwater Analytics posted quarterly revenue of $221.23 million, above estimates, while EPS came in at $0.16 in line with expectations; analysts currently have an overall Hold rating with an average price target of $26.17.

Norges Bank bought a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,639,740 shares of the company's stock, valued at approximately $184,271,000. Norges Bank owned about 2.61% of Clearwater Analytics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of CWAN. Wellington Management Group LLP lifted its stake in shares of Clearwater Analytics by 108.7% during the 3rd quarter. Wellington Management Group LLP now owns 17,793,701 shares of the company's stock worth $320,642,000 after buying an additional 9,268,950 shares during the last quarter. Vanguard Group Inc. increased its position in Clearwater Analytics by 21.9% during the third quarter. Vanguard Group Inc. now owns 33,261,349 shares of the company's stock worth $599,370,000 after acquiring an additional 5,967,798 shares during the period. Blair William & Co. IL increased its position in Clearwater Analytics by 83.5% during the third quarter. Blair William & Co. IL now owns 7,134,647 shares of the company's stock worth $128,566,000 after acquiring an additional 3,245,986 shares during the period. UBS Group AG increased its position in Clearwater Analytics by 249.3% during the third quarter. UBS Group AG now owns 4,297,683 shares of the company's stock worth $77,444,000 after acquiring an additional 3,067,164 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in Clearwater Analytics during the third quarter worth about $44,884,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Price Performance

CWAN stock opened at $24.39 on Thursday. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.39. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.73 and a 12 month high of $25.07. The firm has a market cap of $7.28 billion, a P/E ratio of -135.49, a P/E/G ratio of 3.35 and a beta of 0.60. The company's 50-day moving average price is $24.11 and its two-hundred day moving average price is $23.45.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Clearwater Analytics had a negative net margin of 5.88% and a positive return on equity of 3.17%. The firm had revenue of $221.23 million for the quarter, compared to analyst estimates of $214.09 million. During the same period last year, the firm earned $0.13 EPS. The business's quarterly revenue was up 74.4% compared to the same quarter last year. On average, analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 21,631 shares of the firm's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $23.80, for a total value of $514,817.80. Following the transaction, the chief financial officer directly owned 485,419 shares of the company's stock, valued at $11,552,972.20. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Souvik Das sold 14,686 shares of the firm's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $23.80, for a total transaction of $349,526.80. Following the completion of the transaction, the chief technology officer directly owned 210,109 shares in the company, valued at approximately $5,000,594.20. This represents a 6.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 194,332 shares of company stock worth $4,624,562. Corporate insiders own 3.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CWAN shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $24.55 price target (down from $36.00) on shares of Clearwater Analytics in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Clearwater Analytics in a research report on Friday, May 22nd. Finally, DA Davidson reaffirmed a "neutral" rating and set a $24.55 price target on shares of Clearwater Analytics in a research report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $26.17.

Clearwater Analytics Company Profile

Clearwater Analytics LLC is a global provider of web-based investment portfolio accounting, reporting, and analytics solutions. The company's software-as-a-service platform automates complex processes involved in investment data aggregation, reconciliation, valuation, and regulatory reporting. Serving institutional investors—including insurers, asset managers, corporations, government entities, and asset owners—Clearwater Analytics enables clients to optimize performance visibility, risk management, and operational efficiency.

Founded in 2004 and headquartered in Boise, Idaho, Clearwater Analytics has grown its global footprint with offices across North America, Europe, and the Asia-Pacific region.

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