Clearwater Analytics Holdings, Inc. $CWAN Shares Bought by PDT Partners LLC

Key Points

• PDT Partners LLC increased its stake in Clearwater Analytics by 28.3%, owning 131,970 shares worth $3.5 million as of the latest SEC filing.
• Significant insider activity includes CFO James S. Cox selling 18,700 shares and CEO Sandeep Sahai selling 50,000 shares, both reducing their ownership by approximately 5%.
• Clearwater Analytics reported a 70.4% year-over-year increase in revenue but fell short of earnings expectations, with a reported $0.12 earnings per share against an estimate of $0.13.

PDT Partners LLC increased its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 28.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,970 shares of the company's stock after acquiring an additional 29,108 shares during the period. PDT Partners LLC's holdings in Clearwater Analytics were worth $3,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of Clearwater Analytics by 5.9% in the first quarter. Royal Bank of Canada now owns 491,562 shares of the company's stock worth $13,173,000 after purchasing an additional 27,462 shares in the last quarter. Graham Capital Management L.P. lifted its holdings in Clearwater Analytics by 337.7% in the 1st quarter. Graham Capital Management L.P. now owns 65,873 shares of the company's stock worth $1,765,000 after purchasing an additional 50,823 shares during the last quarter. Quarry LP lifted its holdings in Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company's stock worth $56,000 after purchasing an additional 1,900 shares during the last quarter. Ashford Capital Management Inc. lifted its holdings in Clearwater Analytics by 98.6% in the 1st quarter. Ashford Capital Management Inc. now owns 558,409 shares of the company's stock worth $14,965,000 after purchasing an additional 277,289 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Clearwater Analytics by 62.2% in the 1st quarter. Baird Financial Group Inc. now owns 195,084 shares of the company's stock valued at $5,228,000 after buying an additional 74,845 shares during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on 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 directly owned 348,964 shares in the company, valued at approximately $7,851,690. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction on Monday, July 14th. The shares were 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 approximately $19,838,935.45. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,748 shares of company stock valued at $5,755,414 over the last three months. Insiders own 3.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CWAN shares. Oppenheimer reduced their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. Zacks Research raised shares of Clearwater Analytics from a "strong sell" rating to a "hold" rating in a report on Thursday. The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Monday, August 11th. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Finally, DA Davidson decreased their target price on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Clearwater Analytics has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

Clearwater Analytics Trading Up 2.9%

CWAN stock traded up $0.59 during trading on Friday, reaching $20.75. The company had a trading volume of 5,855,019 shares, compared to its average volume of 4,452,897. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71. The company has a market cap of $6.07 billion, a P/E ratio of 13.05, a PEG ratio of 4.95 and a beta of 0.73. The business has a 50 day moving average of $20.82 and a 200 day moving average of $23.28.

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). The company had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm's quarterly revenue was up 70.4% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. As a group, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics announced that its board has authorized a share repurchase program on Wednesday, September 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.