Seven Grand Managers LLC Sells 35,000 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Seven Grand Managers LLC decreased its holdings in Clearwater Analytics Holdings, Inc. by 25.9% during the first quarter, resulting in ownership of 100,000 shares valued at approximately $2.68 million.
• Several hedge funds increased their stakes in Clearwater Analytics, with Vanguard Group Inc. raising its stake by 11.3%, now owning over 23 million shares valued at $623 million.
• Analysts have mixed ratings for Clearwater Analytics, with ten giving a buy rating and a consensus price target of $32.20, while some analysts have downgraded price targets following recent market trends.

Seven Grand Managers LLC lowered its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 25.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the company's stock after selling 35,000 shares during the quarter. Seven Grand Managers LLC's holdings in Clearwater Analytics were worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Apollon Wealth Management LLC raised its holdings in shares of Clearwater Analytics by 3.9% during the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock valued at $331,000 after purchasing an additional 459 shares in the last quarter. Huntleigh Advisors Inc. grew its stake in Clearwater Analytics by 1.9% in the 1st quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock valued at $863,000 after buying an additional 595 shares during the last quarter. Abacus FCF Advisors LLC grew its stake in Clearwater Analytics by 2.8% in the 1st quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock valued at $674,000 after buying an additional 682 shares during the last quarter. Cerity Partners LLC grew its stake in Clearwater Analytics by 7.3% in the 1st quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock valued at $311,000 after buying an additional 793 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its stake in Clearwater Analytics by 2.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company's stock valued at $1,107,000 after buying an additional 900 shares during the last quarter. Institutional investors own 50.10% of the company's stock.

Clearwater Analytics Stock Down 1.2%

Shares of Clearwater Analytics stock traded down $0.23 on Wednesday, hitting $19.57. The company had a trading volume of 3,626,058 shares, compared to its average volume of 4,882,908. The firm has a market capitalization of $5.72 billion, a P/E ratio of 12.31, a P/E/G ratio of 4.66 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.98 and a twelve month high of $35.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a 50-day moving average of $21.22 and a 200-day moving average of $23.94.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share 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 firm's quarterly revenue was up 70.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. Research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CWAN. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a research note on Monday, August 11th. JPMorgan Chase & Co. began coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 target price on the stock. Wells Fargo & Company lowered their target price 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. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Finally, Oppenheimer decreased their target price 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 investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $32.67.

Insider Activity at Clearwater Analytics

In other news, CTO Souvik Das sold 5,273 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $21.67, for a total value of $114,265.91. Following the completion of the transaction, the chief technology officer owned 142,549 shares in the company, valued at $3,089,036.83. This represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the completion of the transaction, the chief executive officer owned 895,663 shares of the company's stock, valued at $19,838,935.45. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,748 shares of company stock worth $4,549,748 over the last ninety days. 3.31% of the stock is owned by corporate 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.