Charles Schwab Investment Management Inc. Buys 60,948 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Charles Schwab Investment Management Inc. raised its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 4.9% in the third quarter, Holdings Channel reports. The fund owned 1,295,413 shares of the company’s stock after purchasing an additional 60,948 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Clearwater Analytics were worth $32,709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CWAN. Price T Rowe Associates Inc. MD raised its holdings in Clearwater Analytics by 38.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,573 shares of the company’s stock valued at $771,000 after buying an additional 12,200 shares during the last quarter. California State Teachers Retirement System raised its holdings in Clearwater Analytics by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after buying an additional 23,971 shares during the last quarter. Jane Street Group LLC raised its holdings in Clearwater Analytics by 234.2% in the 1st quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock valued at $4,702,000 after buying an additional 186,273 shares during the last quarter. SG Americas Securities LLC bought a new position in Clearwater Analytics in the 2nd quarter valued at approximately $355,000. Finally, Curated Wealth Partners LLC raised its holdings in Clearwater Analytics by 218.8% in the 2nd quarter. Curated Wealth Partners LLC now owns 17,480 shares of the company’s stock valued at $324,000 after buying an additional 32,198 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Insider Transactions at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $24.44, for a total value of $457,028.00. Following the completion of the sale, the chief financial officer now owns 227,503 shares of the company’s stock, valued at approximately $5,560,173.32. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total transaction of $92,387.50. Following the completion of the sale, the executive now directly owns 4,844 shares of the company’s stock, valued at approximately $115,045. The trade was a 44.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,770 shares of company stock valued at $1,826,606 in the last quarter. 4.60% of the stock is currently owned by company insiders.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $29.63 on Wednesday. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 2,965.97, a price-to-earnings-growth ratio of 11.10 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71. 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 firm has a 50 day moving average of $27.99 and a 200-day moving average of $23.63.

Wall Street Analyst Weigh In

CWAN has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on shares of Clearwater Analytics from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group raised their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Piper Sandler raised their price target on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Citigroup initiated coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company. Finally, JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Clearwater Analytics currently has an average rating of “Hold” and a consensus target price of $31.67.

About Clearwater Analytics

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.