Thornburg Investment Management Inc. Sells 55,666 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Thornburg Investment Management Inc. lowered its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 19.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 228,101 shares of the company's stock after selling 55,666 shares during the quarter. Thornburg Investment Management Inc. owned 0.09% of Clearwater Analytics worth $6,277,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in shares of Clearwater Analytics in the 4th quarter valued at $57,000. R Squared Ltd bought a new position in Clearwater Analytics during the fourth quarter worth about $80,000. Aster Capital Management DIFC Ltd bought a new position in Clearwater Analytics during the fourth quarter worth about $82,000. Nisa Investment Advisors LLC grew its stake in Clearwater Analytics by 174.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock valued at $86,000 after acquiring an additional 1,987 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Clearwater Analytics in the fourth quarter worth about $88,000. Institutional investors own 50.10% of the company's stock.

Insider Buying and Selling

In related news, Director Kathleen A. Corbet sold 12,634 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total transaction of $298,920.44. Following the transaction, the director now directly owns 14,498 shares in the company, valued at approximately $343,022.68. The trade was a 46.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Scott Stanley Erickson sold 4,141 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the sale, the executive now owns 7,902 shares of the company's stock, valued at approximately $218,490.30. This represents a 34.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,175 shares of company stock worth $5,040,744. Corporate insiders own 3.31% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target for the company. Wells Fargo & Company lowered 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 report on Tuesday, April 22nd. The Goldman Sachs Group began coverage on shares of Clearwater Analytics in a report on Monday. They set a "neutral" rating and a $26.00 price objective on the stock. Finally, Piper Sandler reduced their target price on shares of Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Clearwater Analytics presently has an average rating of "Moderate Buy" and an average target price of $32.40.

Clearwater Analytics Stock Down 5.3%

Shares of CWAN stock traded down $1.25 during trading on Wednesday, reaching $22.41. The company's stock had a trading volume of 3,239,480 shares, compared to its average volume of 2,334,026. Clearwater Analytics Holdings, Inc. has a one year low of $17.63 and a one year high of $35.71. The business has a fifty day moving average price of $24.17 and a 200-day moving average price of $27.29. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 8.23 and a beta of 0.79. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $126.86 million for the quarter, compared to analysts' expectations of $125.11 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company's revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current 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.