Granite Investment Partners LLC Decreases Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Granite Investment Partners LLC lessened its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 339,088 shares of the company’s stock after selling 5,967 shares during the quarter. Granite Investment Partners LLC owned approximately 0.14% of Clearwater Analytics worth $6,280,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its stake in shares of Clearwater Analytics by 35.6% in the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after buying an additional 4,304,286 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Clearwater Analytics by 36.6% during the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock worth $258,628,000 after purchasing an additional 3,461,158 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Clearwater Analytics by 42.5% in the first quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock valued at $183,344,000 after purchasing an additional 3,090,352 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of Clearwater Analytics by 30.8% in the first quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock valued at $94,804,000 after purchasing an additional 1,262,150 shares during the last quarter. Finally, Capital World Investors lifted its position in Clearwater Analytics by 60.5% during the fourth quarter. Capital World Investors now owns 3,051,500 shares of the company’s stock worth $61,122,000 after buying an additional 1,150,538 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler restated a “neutral” rating and issued a $23.00 target price on shares of Clearwater Analytics in a report on Monday, September 9th. Royal Bank of Canada raised their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Citigroup assumed 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, Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.90.

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 232,503 shares in the company, valued at $4,398,956.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $18.92, for a total transaction of $213,323.00. Following the completion of the sale, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $4,398,956.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,897,118 shares of company stock worth $247,319,596. Corporate insiders own 2.10% of the company’s stock.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $25.29 on Friday. The stock has a market cap of $6.21 billion, a P/E ratio of -316.13, a price-to-earnings-growth ratio of 8.54 and a beta of 0.61. The company has a fifty day simple moving average of $22.88 and a 200-day simple moving average of $19.64. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $25.81.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $106.79 million for the quarter, compared to the consensus estimate of $105.51 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) EPS. Equities analysts expect that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current fiscal 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.