Osterweis Capital Management Inc. Cuts Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Osterweis Capital Management Inc. reduced its stake in Clearwater Analytics by 4.4%, now holding 336,195 shares valued at approximately $9 million.
• Institutional investors like Vanguard Group Inc. and Invesco Ltd. increased their holdings significantly, with Vanguard owning over 23 million shares after a 11.3% increase.
• Clearwater Analytics reported $181.94 million in revenue for the last quarter, surpassing estimates, despite an EPS miss of $0.12 compared to the forecast of $0.13.

Osterweis Capital Management Inc. lessened its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 336,195 shares of the company's stock after selling 15,365 shares during the period. Osterweis Capital Management Inc. owned 0.12% of Clearwater Analytics worth $9,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CWAN. Nvwm LLC bought a new position in shares of Clearwater Analytics during the 1st quarter valued at about $46,000. CWM LLC boosted its holdings in shares of Clearwater Analytics by 714.6% during the 1st quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after purchasing an additional 2,694 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Clearwater Analytics during the 4th quarter valued at about $121,000. Portside Wealth Group LLC bought a new position in shares of Clearwater Analytics in the 1st quarter valued at about $206,000. Finally, Norden Group LLC bought a new position in shares of Clearwater Analytics in the 1st quarter valued at about $232,000. Institutional investors own 50.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CWAN shares. DA Davidson lowered their price target on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price target for the company in a report on Monday, August 11th. Finally, Oppenheimer lowered their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $32.67.

Insider Activity at Clearwater Analytics

In other news, CTO Souvik Das sold 10,000 shares of the firm'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 transaction of $200,000.00. Following the transaction, the chief technology officer directly owned 132,549 shares of the company's stock, valued at approximately $2,650,980. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Subi Sethi sold 7,358 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $21.67, for a total transaction of $159,447.86. Following the transaction, the insider directly owned 218,788 shares in the company, valued at approximately $4,741,135.96. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 219,786 shares of company stock valued at $4,810,539. 3.31% of the stock is owned by insiders.

Clearwater Analytics Trading Up 6.3%

Clearwater Analytics stock traded up $1.2390 during midday trading on Friday, reaching $20.8390. The stock had a trading volume of 4,962,326 shares, compared to its average volume of 4,861,539. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.98 and a 52-week high of $35.71. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The company has a fifty day moving average of $21.13 and a 200 day moving average of $23.79.

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 analysts' consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm had revenue of $181.94 million during the quarter, compared to analysts' expectations of $174.16 million. During the same period last year, the company earned $0.10 earnings per share. The business's revenue for the quarter was up 70.4% compared to the same quarter last year. On average, analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal 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.