Point72 Asset Management L.P. Purchases New Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Point72 Asset Management L.P. bought a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 75,108 shares of the company's stock, valued at approximately $2,067,000.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Clearwater Analytics by 1,600.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company's stock worth $39,690,000 after buying an additional 1,357,425 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock valued at $202,931,000 after purchasing an additional 2,931,445 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Clearwater Analytics during the fourth quarter valued at $1,112,000. Stephens Investment Management Group LLC increased its holdings in shares of Clearwater Analytics by 189.5% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company's stock valued at $34,926,000 after purchasing an additional 830,684 shares during the period. Finally, Moody Aldrich Partners LLC increased its holdings in shares of Clearwater Analytics by 32.4% during the fourth quarter. Moody Aldrich Partners LLC now owns 386,424 shares of the company's stock valued at $10,634,000 after purchasing an additional 94,454 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CWAN has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group initiated coverage on Clearwater Analytics in a report on Monday, May 19th. They set a "neutral" rating and a $26.00 price target on the stock. JPMorgan Chase & Co. began coverage on Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 price target on the stock. Royal Bank of Canada raised their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Piper Sandler decreased their target price on Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.40.

Clearwater Analytics Stock Down 0.8%

NYSE CWAN traded down $0.17 during trading on Friday, reaching $22.01. 2,102,750 shares of the company's stock were exchanged, compared to its average volume of 2,347,410. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.63 and a fifty-two week high of $35.71. The firm has a market capitalization of $6.24 billion, a PE ratio of 13.26, a P/E/G ratio of 8.23 and a beta of 0.79. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The company's fifty day simple moving average is $23.90 and its 200-day simple moving average is $27.20.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.86 million during the quarter, compared to analyst estimates of $125.11 million. During the same period last year, the company posted $0.10 EPS. The business's quarterly revenue was up 23.5% compared to the same quarter last year. Sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Scott Stanley Erickson sold 4,141 shares of Clearwater Analytics stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the sale, the executive now directly owns 7,902 shares in the company, valued at $218,490.30. The trade was a 34.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $26.58, for a total value of $497,046.00. Following the sale, the chief financial officer now owns 358,502 shares of the company's stock, valued at approximately $9,528,983.16. This represents a 4.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,175 shares of company stock worth $5,040,744. 3.31% of the stock is currently owned by company insiders.

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.