Fred Alger Management LLC Acquires 357,086 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Fred Alger Management LLC raised its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,469,228 shares of the company's stock after purchasing an additional 357,086 shares during the period. Fred Alger Management LLC owned 1.00% of Clearwater Analytics worth $67,953,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Barclays PLC raised its stake in Clearwater Analytics by 105.6% in the third quarter. Barclays PLC now owns 571,860 shares of the company's stock valued at $14,439,000 after purchasing an additional 293,719 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after buying an additional 468 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of Clearwater Analytics during the 4th quarter worth $345,000. Jackson Square Capital LLC purchased a new position in Clearwater Analytics in the fourth quarter worth $558,000. Finally, Nisa Investment Advisors LLC increased 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 last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CWAN shares. UBS Group upped their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Piper Sandler reduced their price target on shares of Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada increased their target price on shares of 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. began coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target for the company. Finally, DA Davidson raised Clearwater Analytics from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $32.00.

Insiders Place Their Bets

In other news, CRO Scott Stanley Erickson sold 4,141 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.65, for a total value of $114,498.65. Following the sale, the executive now directly owns 7,902 shares of the company's stock, valued at $218,490.30. This represents a 34.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $23.09, for a total transaction of $1,154,500.00. Following the sale, the chief executive officer now directly owns 876,754 shares in the company, valued at $20,244,249.86. The trade was a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock worth $18,478,363 over the last three months. Company insiders own 4.60% of the company's stock.

Clearwater Analytics Trading Up 2.4 %

NYSE:CWAN traded up $0.56 during mid-day trading on Friday, reaching $23.52. 3,079,336 shares of the company's stock traded hands, compared to its average volume of 2,273,116. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.63 and a 12-month high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a 50 day moving average price of $24.77 and a 200-day moving average price of $27.42. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 8.23 and a beta of 0.79.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly 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. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company had revenue of $126.86 million during the quarter, compared to analyst estimates of $125.11 million. During the same quarter last year, the firm posted $0.10 earnings per share. The firm's revenue was up 23.5% on a year-over-year basis. On average, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share 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.