Polen Capital Management LLC Sells 15,137 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Key Points

• Polen Capital Management LLC reduced its stake in Clearwater Analytics Holdings, Inc. by 10.8%, selling 15,137 shares and bringing its total holdings to 124,892 shares valued at approximately $3.3 million.
• Multiple institutional investors have increased their stakes in Clearwater Analytics, with Vanguard Group acquiring 11.3% more shares, bringing its total ownership to over 23 million shares worth around $623 million.
• Analysts have set new target prices for Clearwater Analytics, with Oppenheimer reducing its price target from $40 to $36 while maintaining an "outperform" rating; the consensus rating for the stock remains a "Moderate Buy" with an average target price of $31.90.

Polen Capital Management LLC cut its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 10.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,892 shares of the company's stock after selling 15,137 shares during the quarter. Polen Capital Management LLC's holdings in Clearwater Analytics were worth $3,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Invesco Ltd. increased its stake in Clearwater Analytics by 34.1% during the 1st quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock worth $152,930,000 after purchasing an additional 1,452,474 shares in the last quarter. Blair William & Co. IL increased its stake in Clearwater Analytics by 44.4% during the 1st quarter. Blair William & Co. IL now owns 2,534,270 shares of the company's stock worth $67,918,000 after purchasing an additional 779,538 shares in the last quarter. Fred Alger Management LLC increased its stake in Clearwater Analytics by 16.9% during the 4th quarter. Fred Alger Management LLC now owns 2,469,228 shares of the company's stock worth $67,953,000 after purchasing an additional 357,086 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Clearwater Analytics by 13.8% during the 4th quarter. Driehaus Capital Management LLC now owns 2,214,452 shares of the company's stock worth $60,942,000 after purchasing an additional 268,601 shares in the last quarter. 50.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Subi Sethi sold 7,358 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $159,447.86. Following the completion of the sale, the insider owned 218,788 shares of the company's stock, valued at approximately $4,741,135.96. This represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at approximately $19,838,935.45. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,107 shares of company stock worth $5,844,208 in the last quarter. 3.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CWAN shares. Oppenheimer lowered their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. Wells Fargo & Company lowered their target price on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group started coverage on Clearwater Analytics in a research note on Monday, May 19th. They set a "neutral" rating and a $26.00 target price for the company. JPMorgan Chase & Co. started coverage on Clearwater Analytics in a research note on Friday, April 25th. They set an "overweight" rating and a $28.00 target price for the company. Finally, Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and an average target price of $31.90.

Clearwater Analytics Price Performance

Shares of CWAN opened at $19.75 on Friday. The stock has a market capitalization of $5.59 billion, a P/E ratio of 12.42, a P/E/G ratio of 3.94 and a beta of 0.73. The company has a quick ratio of 5.09, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.98 and a twelve month high of $35.71. The company has a 50 day moving average of $21.89 and a 200-day moving average of $24.41.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The company's quarterly revenue was up 70.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. As a group, equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS 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.

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