Sandia Investment Management LP Invests $688,000 in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Sandia Investment Management LP bought a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,000 shares of the company's stock, valued at approximately $688,000. Clearwater Analytics accounts for approximately 1.6% of Sandia Investment Management LP's holdings, making the stock its 17th biggest position.

A number of other institutional investors have also recently made changes to their positions in CWAN. Arcadia Investment Management Corp MI purchased a new position in Clearwater Analytics during the fourth quarter worth about $57,000. R Squared Ltd purchased a new position in shares of Clearwater Analytics during the fourth quarter worth about $80,000. Aster Capital Management DIFC Ltd bought a new position in shares of Clearwater Analytics in the fourth quarter worth approximately $82,000. Nisa Investment Advisors LLC raised 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 purchasing an additional 1,987 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in Clearwater Analytics during the fourth quarter valued at approximately $88,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Analyst Ratings Changes

CWAN has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. 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 note on Thursday, February 20th. Royal Bank of Canada upped their price target on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. The Goldman Sachs Group assumed coverage on shares of Clearwater Analytics in a research note on Monday. They set a "neutral" rating and a $26.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target on the stock. One investment 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 price target of $32.40.

Clearwater Analytics Stock Performance

CWAN traded down $0.27 during midday trading on Thursday, hitting $22.18. 913,067 shares of the company were exchanged, compared to its average volume of 2,328,567. The company's 50 day simple moving average is $24.08 and its 200 day simple moving average is $27.26. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 8.23 and a beta of 0.79. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.63 and a 1-year high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $125.11 million. During the same period in the previous year, the company posted $0.10 earnings per share. Clearwater Analytics's revenue for the quarter was up 23.5% on a year-over-year basis. As a group, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 4,141 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.65, for a total transaction of $114,498.65. Following the transaction, the executive now directly owns 7,902 shares of the company's stock, valued at approximately $218,490.30. This trade represents a 34.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $26.56, for a total value of $1,328,000.00. Following the completion of the sale, the chief executive officer now directly owns 857,798 shares in the company, valued at $22,783,114.88. This represents a 5.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,175 shares of company stock valued at $5,040,744 over the last 90 days. 3.31% of the stock is owned by corporate insiders.

Clearwater Analytics 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.