Renaissance Technologies LLC Sells 664,300 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Renaissance Technologies LLC lessened its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 76.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 208,800 shares of the company’s stock after selling 664,300 shares during the period. Renaissance Technologies LLC owned 0.08% of Clearwater Analytics worth $3,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Thornburg Investment Management Inc. boosted its stake in Clearwater Analytics by 31.7% during the first quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock valued at $5,860,000 after buying an additional 79,707 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Clearwater Analytics by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after acquiring an additional 23,971 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Clearwater Analytics in the first quarter valued at $825,000. Brown Capital Management LLC increased its position in Clearwater Analytics by 17.5% in the fourth quarter. Brown Capital Management LLC now owns 3,534,992 shares of the company’s stock worth $70,806,000 after purchasing an additional 527,622 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Clearwater Analytics by 28.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock valued at $77,126,000 after purchasing an additional 971,920 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Insider Buying and Selling at Clearwater Analytics

In other news, Director Warburg Pincus Llc sold 9,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $22.41, for a total transaction of $201,690,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO James S. Cox sold 11,275 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $18.92, for a total value of $213,323.00. Following the completion of the sale, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at $4,398,956.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $22.41, for a total transaction of $201,690,000.00. The disclosure for this sale can be found here. Insiders sold a total of 10,897,118 shares of company stock valued at $247,319,596 in the last three months. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CWAN. Citigroup initiated coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price objective for the company. Piper Sandler reissued a “neutral” rating and set a $23.00 price objective on shares of Clearwater Analytics in a research note on Monday, September 9th. Wells Fargo & Company raised their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their target price on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Monday, July 8th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.78.

Clearwater Analytics Price Performance

Shares of CWAN stock opened at $25.20 on Friday. The stock has a 50 day moving average price of $23.47 and a 200 day moving average price of $19.96. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $26.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. The firm has a market capitalization of $6.21 billion, a P/E ratio of -315.00, a P/E/G ratio of 9.30 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $106.79 million during the quarter, compared to analyst estimates of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The business’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) earnings per share. As a group, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current year.

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.