Russell Investments Group Ltd. Acquires 73,498 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Russell Investments Group Ltd. has increased its holdings in Clearwater Analytics Holdings, Inc. by 46.0%, owning 233,342 shares worth approximately $6,254,000 after acquiring an additional 73,498 shares in the first quarter.
• Clearwater Analytics reported a net margin of 73.74% and revenue of $181.94 million for the quarter, exceeding estimates and marking a 70.4% year-over-year increase.
• Several hedge funds, including Vanguard Group Inc. and Invesco Ltd., have also increased their stakes in Clearwater Analytics, indicating strong institutional interest with 50.10% of the stock currently held by institutional investors.

Russell Investments Group Ltd. raised its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 46.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,342 shares of the company's stock after buying an additional 73,498 shares during the period. Russell Investments Group Ltd. owned 0.08% of Clearwater Analytics worth $6,254,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Zevenbergen Capital Investments LLC raised its stake in shares of Clearwater Analytics by 48.6% in the first quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company's stock worth $24,373,000 after acquiring an additional 297,414 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Clearwater Analytics in the first quarter valued at approximately $314,000. Vanguard Group Inc. increased its stake in Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after purchasing an additional 2,366,715 shares in the last quarter. Yorktown Management & Research Co Inc bought a new stake in Clearwater Analytics in the first quarter valued at approximately $409,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Clearwater Analytics in the fourth quarter valued at approximately $8,580,000. 50.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CWAN has been the subject of several recent analyst reports. DA Davidson lowered their target price on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Monday, August 11th. Piper Sandler set a $27.00 price objective on shares of Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Finally, Oppenheimer cut their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 11th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $32.67.

Clearwater Analytics Stock Performance

Shares of CWAN traded down $0.4850 during midday trading on Monday, reaching $20.3650. The stock had a trading volume of 1,529,071 shares, compared to its average volume of 3,375,975. The firm has a 50 day simple moving average of $21.13 and a 200-day simple moving average of $23.75. Clearwater Analytics Holdings, Inc. has a one year low of $17.98 and a one year high of $35.71. The firm has a market cap of $5.96 billion, a PE ratio of 12.84, a P/E/G ratio of 4.91 and a beta of 0.73. 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 earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business's quarterly revenue was up 70.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Activity at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 3,038 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $20.01, for a total value of $60,790.38. Following the transaction, the chief executive officer owned 895,663 shares in the company, valued at approximately $17,922,216.63. The trade was a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 4,460 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $96,648.20. Following the transaction, the executive owned 15,776 shares in the company, valued at $341,865.92. The trade was a 22.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,786 shares of company stock valued at $4,810,539. Company insiders own 3.31% of the company's stock.

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.