Summit Creek Advisors LLC Increases Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Key Points

• Summit Creek Advisors LLC increased its stake in Clearwater Analytics Holdings, Inc. by 21.0%, owning approximately 0.14% of the company, valued at $9.24 million as of the latest SEC filing.
• Insider selling was notable, with CRO Scott Stanley Erickson and CTO Souvik Das both reducing their stakes by 22.04% and 3.57% respectively, indicating potential insider sentiment changes.
• Analyst coverage remains cautiously optimistic, with a consensus rating of "Moderate Buy" and a target price averaging $31.90, despite some firms adjusting their price estimates downward.

Summit Creek Advisors LLC grew its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 21.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,770 shares of the company's stock after purchasing an additional 59,725 shares during the period. Summit Creek Advisors LLC owned approximately 0.14% of Clearwater Analytics worth $9,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nvwm LLC purchased a new position in shares of Clearwater Analytics in the 1st quarter worth about $46,000. Aster Capital Management DIFC Ltd bought a new position in Clearwater Analytics during the fourth quarter valued at approximately $82,000. CWM LLC raised its stake in shares of Clearwater Analytics by 714.6% during the first quarter. CWM LLC now owns 3,071 shares of the company's stock worth $82,000 after acquiring an additional 2,694 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Clearwater Analytics in the 4th quarter worth approximately $116,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Clearwater Analytics in the 4th quarter valued at $121,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Down 2.7%

Shares of NYSE CWAN traded down $0.57 on Thursday, reaching $20.28. 1,609,394 shares of the company's stock traded hands, compared to its average volume of 3,152,265. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.04. The business's 50 day simple moving average is $22.23 and its two-hundred day simple moving average is $24.81. Clearwater Analytics Holdings, Inc. has a 12 month low of $19.46 and a 12 month high of $35.71. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 4.22 and a beta of 0.74.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $126.86 million during the quarter, compared to analysts' expectations of $125.11 million. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. 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 target for the company. Wells Fargo & Company reduced their price target on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group initiated coverage on Clearwater Analytics in a research report on Monday, May 19th. They issued a "neutral" rating and a $26.00 price objective for the company. Oppenheimer lowered their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Finally, 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. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.90.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total transaction of $420,750.00. Following the sale, the chief financial officer owned 348,964 shares of the company's stock, valued at $7,851,690. This trade represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 895,663 shares of the company's stock, valued at approximately $19,838,935.45. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,107 shares of company stock valued at $5,844,208. 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.