Swiss National Bank Increases Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• The Swiss National Bank increased its stake in Clearwater Analytics by 6.9% in Q1, owning a total of 414,100 shares valued at approximately $11.1 million.
• Insider transactions reported include the sale of shares by two executives, resulting in a combined decrease of 25.29% in their positions.
• Despite missing EPS estimates, Clearwater Analytics reported a robust 70.4% year-over-year revenue growth, totaling $181.94 million for the quarter.

Swiss National Bank increased its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 414,100 shares of the company's stock after acquiring an additional 26,800 shares during the quarter. Swiss National Bank owned about 0.15% of Clearwater Analytics worth $11,098,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Nvwm LLC purchased a new stake in Clearwater Analytics in the 1st quarter worth about $46,000. CWM LLC increased its holdings in Clearwater Analytics by 714.6% in the 1st quarter. CWM LLC now owns 3,071 shares of the company's stock worth $82,000 after acquiring an additional 2,694 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Clearwater Analytics in the 4th quarter worth about $121,000. Portside Wealth Group LLC purchased a new stake in Clearwater Analytics in the 1st quarter worth about $206,000. Finally, Norden Group LLC purchased a new stake in Clearwater Analytics in the 1st quarter worth about $232,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a report on Friday, April 25th. They issued an "overweight" rating and a $28.00 price objective for the company. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Oppenheimer cut their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a research note on Monday, August 11th. Finally, DA Davidson cut their target price on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Clearwater Analytics presently has a consensus rating of "Buy" and an average target price of $32.67.

Clearwater Analytics Price Performance

NYSE CWAN traded up $0.0260 during trading hours on Thursday, hitting $19.5760. The company had a trading volume of 4,113,600 shares, compared to its average volume of 4,900,554. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 4.60 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a 50 day simple moving average of $21.15 and a 200 day simple moving average of $23.87. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly 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). The business had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business's revenue was up 70.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. Equities research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Scott Stanley Erickson sold 4,460 shares of Clearwater Analytics stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $21.67, for a total transaction of $96,648.20. Following the completion of the sale, the executive owned 15,776 shares in the company, valued at approximately $341,865.92. This trade represents a 22.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sandeep Sahai sold 3,038 shares of Clearwater Analytics stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $20.01, for a total value of $60,790.38. Following the sale, the chief executive officer owned 895,663 shares of the company's stock, valued at approximately $17,922,216.63. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,786 shares of company stock worth $4,810,539. Insiders own 3.31% of the company's stock.

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.