Redwood Investments LLC Acquires 34,234 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Redwood Investments LLC lifted its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 86.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,043 shares of the company's stock after purchasing an additional 34,234 shares during the quarter. Redwood Investments LLC's holdings in Clearwater Analytics were worth $2,038,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in Clearwater Analytics during the 4th quarter valued at about $2,067,000. ProShare Advisors LLC boosted its position in Clearwater Analytics by 75.6% in the 4th quarter. ProShare Advisors LLC now owns 50,363 shares of the company's stock worth $1,386,000 after purchasing an additional 21,688 shares in the last quarter. Malaga Cove Capital LLC lifted its position in shares of Clearwater Analytics by 35.4% during the 4th quarter. Malaga Cove Capital LLC now owns 23,743 shares of the company's stock valued at $653,000 after buying an additional 6,210 shares in the last quarter. Man Group plc acquired a new position in shares of Clearwater Analytics during the fourth quarter valued at approximately $6,610,000. Finally, Nuveen Asset Management LLC raised its holdings in Clearwater Analytics by 38.1% in the 4th quarter. Nuveen Asset Management LLC now owns 1,805,853 shares of the company's stock valued at $49,697,000 after acquiring an additional 498,029 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

CWAN stock traded up $0.21 during mid-day trading on Tuesday, reaching $23.73. The company had a trading volume of 1,685,460 shares, compared to its average volume of 2,757,839. Clearwater Analytics Holdings, Inc. has a one year low of $17.63 and a one year high of $35.71. The stock has a market capitalization of $6.72 billion, a P/E ratio of 14.30, a P/E/G 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. The stock's 50-day simple moving average is $24.23 and its two-hundred day simple moving average is $27.32.

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

Insider Buying and Selling at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 76,256 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the transaction, the executive now directly owns 78,363 shares in the company, valued at $2,356,375.41. The trade was a 49.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Subi Sethi sold 62,482 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $1,878,833.74. Following the sale, the insider now directly owns 144,973 shares of the company's stock, valued at $4,359,338.11. This trade represents a 30.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 625,810 shares of company stock valued at $17,800,292 in the last three months. 3.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CWAN shares. Royal Bank of Canada increased their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Wells Fargo & Company decreased their price objective on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley reiterated an "overweight" rating and set a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Piper Sandler cut their price objective on Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, UBS Group boosted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $32.40.

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.