Oak Ridge Investments LLC Invests $2.73 Million in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Oak Ridge Investments LLC has acquired 101,914 shares of Clearwater Analytics Holdings, Inc., valued at approximately $2.73 million, during the first quarter.
• Insider trading includes CEO Sandeep Sahai selling 50,000 shares for $1.11 million, reducing his ownership by 5.29%.
• Clearwater Analytics stock recently saw a 3.5% increase in trading and missed quarterly earnings estimates, reporting earnings per share of $0.12 instead of the anticipated $0.13.

Oak Ridge Investments LLC purchased a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 101,914 shares of the company's stock, valued at approximately $2,731,000.

A number of other large investors also recently modified their holdings of the business. Apollon Wealth Management LLC increased its holdings in shares of Clearwater Analytics by 3.9% during the first quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock valued at $331,000 after purchasing an additional 459 shares during the period. Huntleigh Advisors Inc. increased its stake in Clearwater Analytics by 1.9% in the 1st quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock worth $863,000 after purchasing an additional 595 shares in the last quarter. Abacus FCF Advisors LLC increased its stake in Clearwater Analytics by 2.8% in the 1st quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock worth $674,000 after purchasing an additional 682 shares in the last quarter. Cerity Partners LLC increased its stake in Clearwater Analytics by 7.3% in the 1st quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock worth $311,000 after purchasing an additional 793 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its stake in Clearwater Analytics by 2.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company's stock valued at $1,107,000 after acquiring an additional 900 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the transaction, the chief executive officer owned 895,663 shares in the company, valued at $19,838,935.45. The trade was a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total value of $420,750.00. Following the transaction, the chief financial officer owned 348,964 shares in the company, valued at $7,851,690. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,748 shares of company stock worth $4,549,748. Company insiders own 3.31% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CWAN. Wells Fargo & Company reduced their price target on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a report on Monday, August 11th. Oppenheimer reduced their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a report on Friday, April 25th. They issued an "overweight" rating and a $28.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Clearwater Analytics has an average rating of "Buy" and a consensus price target of $32.67.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN traded down $0.1790 during midday trading on Tuesday, reaching $19.5010. The company's stock had a trading volume of 771,710 shares, compared to its average volume of 3,359,478. The business's fifty day simple moving average is $21.39 and its 200-day simple moving average is $24.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. The company has a market capitalization of $5.70 billion, a P/E ratio of 12.27, a P/E/G ratio of 4.53 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.71.

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

Clearwater Analytics 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.