Stephens Investment Management Group LLC Buys 451,122 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Stephens Investment Management Group LLC grew its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 35.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,720,243 shares of the company's stock after purchasing an additional 451,122 shares during the period. Stephens Investment Management Group LLC owned about 0.69% of Clearwater Analytics worth $46,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in Clearwater Analytics during the fourth quarter valued at approximately $82,000. Assetmark Inc. purchased a new position in shares of Clearwater Analytics during the 4th quarter valued at $111,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Clearwater Analytics in the fourth quarter worth $116,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Clearwater Analytics during the fourth quarter worth $116,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Clearwater Analytics during the fourth quarter valued at $121,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, Director Kathleen A. Corbet sold 12,634 shares of Clearwater Analytics stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total value of $298,920.44. Following the completion of the transaction, the director owned 14,498 shares in the company, valued at approximately $343,022.68. The trade was a 46.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Subi Sethi sold 7,358 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $21.67, for a total transaction of $159,447.86. Following the sale, the insider directly owned 218,788 shares in the company, valued at approximately $4,741,135.96. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 239,407 shares of company stock worth $5,482,987. 3.31% of the stock is owned by company insiders.

Clearwater Analytics Price Performance

Shares of CWAN traded down $0.42 during trading hours on Friday, hitting $21.83. The stock had a trading volume of 4,134,345 shares, compared to its average volume of 2,592,768. The company's fifty day moving average is $22.72 and its two-hundred day moving average is $25.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.09 and a quick ratio of 5.09. Clearwater Analytics Holdings, Inc. has a 52 week low of $18.75 and a 52 week high of $35.71. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 4.37 and a beta of 0.74.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The business had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. On average, analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

CWAN has been the subject of several research reports. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. Wells Fargo & Company reduced their price objective on shares of 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 initiated coverage on shares of Clearwater Analytics in a research note on Monday, May 19th. They issued a "neutral" rating and a $26.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 price objective for the company. Finally, Oppenheimer dropped their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.90.

Clearwater Analytics Company 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.