Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 259,291 shares of the company's stock after buying an additional 23,644 shares during the period. Rhumbline Advisers owned about 0.10% of Clearwater Analytics worth $6,949,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of Clearwater Analytics by 98.2% during the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock valued at $163,867,000 after buying an additional 2,950,555 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Clearwater Analytics by 66.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock valued at $202,931,000 after acquiring an additional 2,931,445 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company's stock valued at $574,607,000 after acquiring an additional 2,455,844 shares during the last quarter. Norges Bank purchased a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $59,402,000. Finally, Blair William & Co. IL boosted its stake in Clearwater Analytics by 3,835.2% during the fourth quarter. Blair William & Co. IL now owns 1,754,732 shares of the company's stock worth $48,290,000 after buying an additional 1,710,141 shares during the period. Institutional investors own 50.10% of the company's stock.

Analysts Set New Price Targets

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

Clearwater Analytics Price Performance

NYSE:CWAN traded down $0.23 during trading hours on Thursday, hitting $22.87. 3,251,645 shares of the stock were exchanged, compared to its average volume of 2,475,233. The company has a market cap of $6.48 billion, a P/E ratio of 13.78, a P/E/G ratio of 8.23 and a beta of 0.77. The firm's fifty day moving average price is $23.03 and its 200 day moving average price is $26.50. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.63 and a 52-week high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

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

Insider Activity at Clearwater Analytics

In other news, Director Kathleen A. Corbet sold 12,634 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the sale, the director now directly owns 14,498 shares in the company, valued at approximately $343,022.68. This trade represents a 46.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $23.09, for a total value of $1,154,500.00. Following the transaction, the chief executive officer now directly owns 876,754 shares in the company, valued at approximately $20,244,249.86. The trade was a 5.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,034 shares of company stock worth $3,598,245. Insiders own 3.31% of the company's stock.

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.