Exchange Traded Concepts LLC Takes Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Exchange Traded Concepts LLC bought a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,637 shares of the company’s stock, valued at approximately $117,000.

Other hedge funds also recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. grew its stake in shares of Clearwater Analytics by 31.7% in the first quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock worth $5,860,000 after acquiring an additional 79,707 shares in the last quarter. California State Teachers Retirement System raised its holdings in Clearwater Analytics by 22.3% in the first 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 in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Clearwater Analytics in the first quarter worth approximately $825,000. Allspring Global Investments Holdings LLC grew its holdings in Clearwater Analytics by 28.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock worth $77,126,000 after acquiring an additional 971,920 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Clearwater Analytics by 234.2% during the 1st quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after acquiring an additional 186,273 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the sale, the chief financial officer now owns 224,044 shares in the company, valued at $5,860,991.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the sale, the chief financial officer now directly owns 224,044 shares in the company, valued at $5,860,991.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $25.38, for a total value of $98,728.20. Following the transaction, the executive now owns 6,373 shares of the company’s stock, valued at $161,746.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,879,543 shares of company stock valued at $247,145,339. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CWAN shares. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Citigroup began coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 target price for the company. Morgan Stanley boosted their target price on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer raised their price target on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada boosted their price objective on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.67.

Clearwater Analytics Stock Down 0.3 %

CWAN opened at $26.95 on Wednesday. The business has a 50 day moving average price of $24.93 and a two-hundred day moving average price of $21.02. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $27.65. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.62 billion, a PE ratio of -336.88, a P/E/G ratio of 9.16 and a beta of 0.62.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The firm had revenue of $106.79 million during the quarter, compared to analysts’ expectations of $105.51 million. During the same period in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.14 EPS 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.