Principal Financial Group Inc. Acquires 65,878 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Principal Financial Group Inc. lifted its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 348.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 84,793 shares of the company’s stock after acquiring an additional 65,878 shares during the quarter. Principal Financial Group Inc.’s holdings in Clearwater Analytics were worth $2,141,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LP purchased a new stake in shares of Clearwater Analytics during the second quarter valued at approximately $1,797,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Clearwater Analytics in the 3rd quarter worth about $3,677,000. Loomis Sayles & Co. L P boosted its stake in shares of Clearwater Analytics by 11.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock valued at $83,186,000 after purchasing an additional 327,880 shares in the last quarter. Swiss National Bank lifted its stake in shares of Clearwater Analytics by 8.5% in the 3rd quarter. Swiss National Bank now owns 312,900 shares of the company’s stock valued at $7,901,000 after purchasing an additional 24,600 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Clearwater Analytics in the 3rd quarter worth about $523,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total transaction of $489,192.00. Following the completion of the transaction, the chief financial officer now directly owns 224,044 shares in the company, valued at $5,860,991.04. The trade was a 7.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Monday, November 11th. The shares were sold at an average price of $31.34, for a total value of $121,912.60. Following the transaction, the executive now owns 6,373 shares of the company’s stock, valued at approximately $199,729.82. This represents a 37.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,942 shares of company stock worth $5,972,366 over the last quarter. Insiders own 4.60% of the company’s stock.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock opened at $27.86 on Friday. The firm has a market cap of $6.88 billion, a P/E ratio of 2,788.79, a P/E/G ratio of 10.57 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 company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average price is $29.30 and its 200-day moving average price is $25.07.

Wall Street Analysts Forecast Growth

CWAN has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price objective on shares of Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. DA Davidson cut shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and raised their target price for the stock from $31.00 to $35.00 in a research note on Friday, November 8th. Morgan Stanley boosted their price target on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Oppenheimer raised their price target on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.89.

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.