Vestmark Advisory Solutions Inc. Increases Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Clearwater Analytics Holdings, Inc. by 92.9% in the 1st quarter, bringing its total holdings to 141,514 shares valued at approximately $3.79 million.
• Several hedge funds made significant moves with Clearwater Analytics, with CWM LLC boosting their stake by 714.6% and a combined 50.10% of the stock now owned by institutional investors.
• Analysts have positive outlooks on Clearwater Analytics, with ten analysts rating the stock as a buy and an average price target of $32.20, although recent earnings were below expectations.

Vestmark Advisory Solutions Inc. boosted its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 92.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 141,514 shares of the company's stock after acquiring an additional 68,156 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Clearwater Analytics were worth $3,793,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Apollon Wealth Management LLC boosted its stake in Clearwater Analytics by 3.9% in the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock worth $331,000 after purchasing an additional 459 shares during the period. Huntleigh Advisors Inc. boosted its stake in Clearwater Analytics by 1.9% during the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock valued at $863,000 after buying an additional 595 shares during the period. Abacus FCF Advisors LLC boosted its stake in Clearwater Analytics by 2.8% during the first quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock valued at $674,000 after buying an additional 682 shares during the period. Cerity Partners LLC boosted its stake in Clearwater Analytics by 7.3% during the first quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock valued at $311,000 after buying an additional 793 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its stake in Clearwater Analytics by 2.2% during the first quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company's stock valued at $1,107,000 after buying an additional 900 shares during the period. Institutional investors own 50.10% of the company's stock.

Wall Street Analyst Weigh In

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

Clearwater Analytics Trading Up 0.3%

CWAN traded up $0.0650 on Thursday, hitting $19.6150. The company had a trading volume of 1,403,988 shares, compared to its average volume of 3,360,365. The company has a market cap of $5.74 billion, a PE ratio of 12.36, a PEG ratio of 4.66 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.98 and a 12-month high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The business's fifty day simple moving average is $21.22 and its 200 day simple moving average is $23.94.

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

Insider Transactions at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 50,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the transaction, the chief executive officer directly owned 895,663 shares in the company, valued at $19,838,935.45. The trade was a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Subi Sethi sold 7,358 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was 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 in the company, 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. Insiders sold 206,748 shares of company stock worth $4,549,748 over the last three months. 3.31% of the stock is owned by insiders.

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.