TimesSquare Capital Management LLC Has $29.55 Million Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

TimesSquare Capital Management LLC cut its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 35.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,102,500 shares of the company's stock after selling 598,205 shares during the period. TimesSquare Capital Management LLC owned approximately 0.44% of Clearwater Analytics worth $29,547,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new position in Clearwater Analytics during the 4th quarter worth about $82,000. CWM LLC increased its holdings in shares of Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after purchasing an additional 2,694 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Clearwater Analytics during the fourth quarter worth about $116,000. Harvest Fund Management Co. Ltd acquired a new stake in Clearwater Analytics in the fourth quarter valued at $116,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Clearwater Analytics in the 4th quarter worth approximately $121,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CWAN has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Oppenheimer cut their price target on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They issued an "overweight" rating and a $28.00 target price for the company. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group initiated coverage on Clearwater Analytics in a research note on Monday, May 19th. They issued a "neutral" rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics has an average rating of "Moderate Buy" and a consensus target price of $31.90.

Insider Activity

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 4,460 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $96,648.20. Following the sale, the executive directly owned 15,776 shares of the company's stock, valued at $341,865.92. The trade was a 22.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $159,447.86. Following the completion of the sale, the insider directly owned 218,788 shares of the company's stock, valued at approximately $4,741,135.96. This represents a 3.25% 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 worth $5,844,208. 3.31% of the stock is owned by company insiders.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN traded down $0.45 during trading on Thursday, reaching $21.76. The company had a trading volume of 7,217,277 shares, compared to its average volume of 2,643,301. Clearwater Analytics Holdings, Inc. has a twelve month low of $19.46 and a twelve month high of $35.71. The firm has a market capitalization of $6.16 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 4.44 and a beta of 0.74. The firm's fifty day moving average is $22.65 and its 200 day moving average is $25.16. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.09 and a current ratio of 5.09.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $126.86 million for the quarter, compared to the consensus estimate of $125.11 million. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The business'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 earned $0.10 EPS. On average, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

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.