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

Sandia Investment Management LP purchased a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,000 shares of the company's stock, valued at approximately $688,000. Clearwater Analytics comprises approximately 1.6% of Sandia Investment Management LP's investment portfolio, making the stock its 17th largest holding.

Several other large investors have also recently made changes to their positions in CWAN. Principal Financial Group Inc. lifted its stake in shares of Clearwater Analytics by 1,600.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company's stock valued at $39,690,000 after acquiring an additional 1,357,425 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock worth $202,931,000 after acquiring an additional 2,931,445 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $1,112,000. Stephens Investment Management Group LLC grew its stake in shares of Clearwater Analytics by 189.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company's stock worth $34,926,000 after buying an additional 830,684 shares during the last quarter. Finally, Moody Aldrich Partners LLC grew its stake in shares of Clearwater Analytics by 32.4% in the 4th quarter. Moody Aldrich Partners LLC now owns 386,424 shares of the company's stock worth $10,634,000 after buying an additional 94,454 shares during the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 218,687 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 transaction of $6,575,918.09. Following the sale, the chief executive officer now directly owns 681,588 shares of the company's stock, valued at $20,495,351.16. This trade represents a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $26.58, for a total value of $497,046.00. Following the sale, the chief financial officer now directly owns 358,502 shares in the company, valued at approximately $9,528,983.16. This represents a 4.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 625,810 shares of company stock worth $17,800,292. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Performance

NYSE CWAN traded up $0.14 on Tuesday, hitting $23.66. 4,348,431 shares of the company traded hands, compared to its average volume of 2,325,362. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 8.23 and a beta of 0.79. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The business's 50 day moving average price is $24.17 and its 200-day moving average price is $27.29. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.63 and a 52-week high of $35.71.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler cut their target price on Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley reiterated an "overweight" rating and set a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a research note on Friday, April 25th. They set an "overweight" rating and a $28.00 target price on the stock. Royal Bank of Canada increased their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group assumed coverage on Clearwater Analytics in a research note on Monday. They set a "neutral" rating and a $26.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.40.

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.