Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Stock Position Increased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in Clearwater Analytics by 107.5% in the first quarter, holding 89,084 shares valued at approximately $2.39 million.
• Clearwater Analytics' stock price opened at $18.92 with a market cap of $5.36 billion, while the stock has a 52-week high of $35.71 and a low of $17.98.
• Recent earnings reported a net margin of 73.74%, with revenue growth of 70.4% compared to the previous year, although EPS of $0.12 missed analyst expectations by $0.01.

Townsquare Capital LLC boosted its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 107.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 89,084 shares of the company's stock after purchasing an additional 46,154 shares during the period. Townsquare Capital LLC's holdings in Clearwater Analytics were worth $2,387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CWAN. Nvwm LLC purchased a new position in Clearwater Analytics in the 1st quarter worth approximately $46,000. CWM LLC lifted its stake 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 purchasing an additional 2,694 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Clearwater Analytics in the 4th quarter worth approximately $121,000. Portside Wealth Group LLC purchased a new position in Clearwater Analytics in the 1st quarter worth approximately $206,000. Finally, Norden Group LLC purchased a new position in Clearwater Analytics in the 1st quarter worth approximately $232,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Subi Sethi sold 7,358 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $21.67, for a total value of $159,447.86. Following the transaction, the insider owned 218,788 shares of the company's stock, valued at approximately $4,741,135.96. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Souvik Das sold 5,273 shares of the firm'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 $114,265.91. Following the completion of the transaction, the chief technology officer directly owned 142,549 shares in the company, valued at approximately $3,089,036.83. This represents a 3.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,107 shares of company stock valued at $4,629,708. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Price Performance

CWAN traded down $0.13 on Friday, hitting $19.24. 3,865,235 shares of the company were exchanged, compared to its average volume of 4,914,365. The business's fifty day moving average is $21.48 and its 200 day moving average is $24.09. The firm has a market capitalization of $5.63 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 4.53 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm's revenue for the quarter was up 70.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 price target for the company. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Oppenheimer dropped their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. DA Davidson lowered their target price on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group upgraded shares of 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. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, Clearwater Analytics presently has a consensus rating of "Buy" and a consensus price target of $32.20.

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.