Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Sold by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management Inc. has decreased its stake in Clearwater Analytics by 10.3%, selling 23,565 shares and now holding 204,536 shares worth approximately $5.48 million.
• Several other institutional investors, including Apollon Wealth Management and Huntleigh Advisors Inc., have increased their positions in Clearwater Analytics, indicating ongoing investor interest.
• Clearwater Analytics reported a quarterly earnings of $0.13 per share, surpassing analysts' expectations and showing a 23.5% increase in revenue year-over-year.

Thornburg Investment Management Inc. lowered its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 10.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,536 shares of the company's stock after selling 23,565 shares during the period. Thornburg Investment Management Inc. owned about 0.08% of Clearwater Analytics worth $5,482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP grew its stake in Clearwater Analytics by 98.2% during the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock valued at $163,867,000 after acquiring an additional 2,950,555 shares in the last quarter. Alliancebernstein L.P. grew its stake in Clearwater Analytics by 66.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock valued at $202,931,000 after acquiring an additional 2,931,445 shares in the last quarter. Vanguard Group Inc. grew its stake in Clearwater Analytics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company's stock valued at $574,607,000 after acquiring an additional 2,455,844 shares in the last quarter. Norges Bank purchased a new stake in Clearwater Analytics during the 4th quarter valued at about $59,402,000. Finally, Franklin Resources Inc. purchased a new stake in Clearwater Analytics during the 4th quarter valued at about $44,510,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They set an "overweight" rating and a $28.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Clearwater Analytics in a report on Monday, May 19th. They issued a "neutral" rating and a $26.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. 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 report on Wednesday, June 11th. Finally, Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.90.

Insider Activity at Clearwater Analytics

In other news, Director Kathleen A. Corbet sold 12,634 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the transaction, the director directly owned 14,498 shares in the company, valued at approximately $343,022.68. This represents a 46.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total transaction of $420,750.00. Following the completion of the transaction, the chief financial officer owned 348,964 shares in the company, valued at approximately $7,851,690. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,107 shares of company stock valued at $5,844,208. 3.31% of the stock is owned by insiders.

Clearwater Analytics Trading Down 0.0%

Shares of CWAN stock traded down $0.01 during trading hours on Friday, hitting $20.25. The company had a trading volume of 3,582,289 shares, compared to its average volume of 3,169,325. The company's fifty day moving average is $22.16 and its 200 day moving average is $24.75. 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 fifty-two week low of $19.93 and a fifty-two week high of $35.71. The stock has a market capitalization of $5.74 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 4.17 and a beta of 0.74.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 EPS 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 firm had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. During the same period in the prior year, the business posted $0.10 EPS. The business's revenue for the quarter was up 23.5% compared to the same quarter last year. Research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

About Clearwater Analytics

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.