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

Oppenheimer Asset Management Inc. lessened its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 22.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CWAN. Wellington Management Group LLP raised its holdings in Clearwater Analytics by 98.2% during the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock worth $163,867,000 after purchasing an additional 2,950,555 shares during the last quarter. Alliancebernstein L.P. grew 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 worth $202,931,000 after buying an additional 2,931,445 shares during the period. Vanguard Group Inc. raised its stake in shares of 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. Norges Bank acquired a new position in Clearwater Analytics in the fourth quarter valued at approximately $59,402,000. Finally, Blair William & Co. IL boosted its stake in Clearwater Analytics by 3,835.2% in the fourth quarter. Blair William & Co. IL now owns 1,754,732 shares of the company's stock valued at $48,290,000 after acquiring an additional 1,710,141 shares during the last quarter. 50.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the completion of the transaction, the chief executive officer now directly owns 876,754 shares of the company's stock, valued at $21,296,354.66. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $22.25, for a total value of $416,075.00. Following the completion of the sale, the chief financial officer now directly owns 348,885 shares in the company, valued at approximately $7,762,691.25. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,034 shares of company stock worth $4,629,774. Corporate insiders own 3.31% of the company's stock.

Wall Street Analyst Weigh In

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

Clearwater Analytics Stock Down 1.6%

Shares of CWAN traded down $0.37 on Friday, hitting $22.01. The company's stock had a trading volume of 12,097,965 shares, compared to its average volume of 2,599,958. The firm's fifty day moving average price is $22.80 and its 200-day moving average price is $25.85. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.63 and a fifty-two week high of $35.71. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 4.35 and a beta of 0.77.

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