Point72 Asset Management L.P. Invests $2.07 Million in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

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

A number of other institutional investors and hedge funds also recently modified their holdings of CWAN. Arcadia Investment Management Corp MI bought a new position in Clearwater Analytics in the 4th quarter valued at $57,000. R Squared Ltd bought a new position in Clearwater Analytics during the fourth quarter valued at about $80,000. Aster Capital Management DIFC Ltd purchased a new stake in Clearwater Analytics during the fourth quarter worth about $82,000. Nisa Investment Advisors LLC raised its position in Clearwater Analytics by 174.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock worth $86,000 after acquiring an additional 1,987 shares during the period. Finally, OFI Invest Asset Management purchased a new position in Clearwater Analytics in the fourth quarter valued at about $88,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $26.56, for a total transaction of $1,328,000.00. Following the completion of the sale, the chief executive officer now directly owns 857,798 shares in the company, valued at approximately $22,783,114.88. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Scott Stanley Erickson sold 4,141 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.65, for a total value of $114,498.65. Following the transaction, the executive now directly owns 7,902 shares of the company's stock, valued at $218,490.30. The trade was a 34.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 204,175 shares of company stock worth $5,040,744 over the last three months. Company insiders own 3.31% of the company's stock.

Clearwater Analytics Price Performance

Clearwater Analytics stock traded down $0.17 during midday trading on Monday, reaching $22.01. 2,102,750 shares of the stock were exchanged, compared to its average volume of 2,353,868. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.63 and a 52 week high of $35.71. The firm has a market cap of $6.24 billion, a PE ratio of 13.26, a PEG ratio of 8.23 and a beta of 0.79. The company's fifty day moving average is $23.90 and its 200-day moving average is $27.15.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 price objective for the company. UBS Group lifted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Morgan Stanley reaffirmed an "overweight" rating and set a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Piper Sandler reduced their target price on shares of Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $32.40.

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.