OFI Invest Asset Management Takes $88,000 Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

OFI Invest Asset Management purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,300 shares of the company’s stock, valued at approximately $88,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CWAN. Champlain Investment Partners LLC bought a new position in shares of Clearwater Analytics in the 3rd quarter valued at $53,559,000. Principal Financial Group Inc. grew its position in Clearwater Analytics by 1,600.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock worth $39,690,000 after acquiring an additional 1,357,425 shares during the last quarter. State Street Corp grew its position in Clearwater Analytics by 38.7% during the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after acquiring an additional 1,009,548 shares during the last quarter. Stephens Investment Management Group LLC grew its position in Clearwater Analytics by 189.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after acquiring an additional 830,684 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Clearwater Analytics during the 4th quarter worth $20,482,000. Institutional investors own 50.10% of the company’s stock.

Insider Activity

In related news, insider Subi Sethi sold 62,482 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the transaction, the insider now directly owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $15,944,485.95. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 590,369 shares of company stock valued at $17,303,773 in the last ninety days. 4.60% of the stock is owned by company insiders.

Clearwater Analytics Stock Down 4.1 %

Shares of CWAN opened at $27.56 on Tuesday. The company has a market capitalization of $6.92 billion, a PE ratio of 16.60, a PEG ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $35.71. The stock’s 50-day moving average price is $28.35 and its two-hundred day moving average price is $27.65. 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) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. On average, analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CWAN. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $28.00 to $36.00 in a research report on Thursday, February 20th. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Oppenheimer boosted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group boosted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.80.

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.