Oppenheimer Asset Management Inc. Sells 29,269 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Oppenheimer Asset Management Inc. reduced its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,274 shares of the company's stock after selling 29,269 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Clearwater Analytics were worth $2,661,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in Clearwater Analytics during the 1st quarter worth $314,000. Azzad Asset Management Inc. ADV bought a new position in Clearwater Analytics during the first quarter worth about $849,000. Abacus FCF Advisors LLC raised 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. CHICAGO TRUST Co NA bought a new stake in Clearwater Analytics in the 1st quarter valued at about $361,000. Finally, Portside Wealth Group LLC acquired a new position in shares of Clearwater Analytics during the 1st quarter worth approximately $206,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CWAN. Oppenheimer dropped their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. Wells Fargo & Company cut their target price on 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 Clearwater Analytics in a research report on Monday, May 19th. They issued a "neutral" rating and a $26.00 price target on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.90.

Insider Buying and Selling

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $22.25, for a total value of $416,075.00. Following the completion of the transaction, the chief financial officer directly owned 348,885 shares in the company, valued at approximately $7,762,691.25. This trade represents a 5.09% decrease in their ownership of the stock. The transaction 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 business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $22.25, for a total value of $1,112,500.00. Following the sale, the chief executive officer owned 876,754 shares in the company, valued at approximately $19,507,776.50. This trade represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,034 shares of company stock worth $4,629,774 in the last 90 days. Insiders own 3.31% of the company's stock.

Clearwater Analytics Price Performance

Shares of CWAN traded down $0.06 during mid-day trading on Monday, reaching $21.94. The company had a trading volume of 5,547,277 shares, compared to its average volume of 2,528,352. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 4.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.09 and a current ratio of 5.09. The company's 50 day simple moving average is $22.80 and its 200 day simple moving average is $25.69. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.63 and a 1-year high of $35.71.

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

About Clearwater Analytics

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.