PDT Partners LLC Has $3.54 Million Position in Clearwater Analytics Holdings, Inc. $CWAN

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

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

Analyst Ratings Changes

Several analysts have recently commented on the company. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Monday, August 11th. Zacks Research upgraded Clearwater Analytics from a "strong sell" rating to a "hold" rating in a report on Thursday. DA Davidson decreased their target price on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Oppenheimer decreased their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. Finally, 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. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $32.67.

Clearwater Analytics Trading Up 2.9%

Clearwater Analytics stock traded up $0.59 during mid-day trading on Friday, hitting $20.75. The stock had a trading volume of 5,855,019 shares, compared to its average volume of 4,238,083. The stock has a 50-day simple moving average of $20.82 and a two-hundred day simple moving average of $23.23. The stock has a market capitalization of $6.07 billion, a PE ratio of 13.05, a P/E/G ratio of 5.26 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44.

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

Clearwater Analytics announced that its board has approved a share buyback program on Wednesday, September 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the firm's 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 approximately $19,838,935.45. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was 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 approximately $7,851,690. This trade represents a 5.09% 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 worth $5,755,414 in the last ninety days. 3.31% of the stock is currently owned by corporate insiders.

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.