KLP Kapitalforvaltning AS Makes New Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

KLP Kapitalforvaltning AS purchased a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 40,400 shares of the company’s stock, valued at approximately $1,112,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after purchasing an additional 468 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Clearwater Analytics by 3.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock valued at $469,000 after purchasing an additional 502 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Clearwater Analytics by 11.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock valued at $142,000 after buying an additional 521 shares during the period. IHT Wealth Management LLC raised its stake in Clearwater Analytics by 5.5% in the third quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock worth $288,000 after buying an additional 598 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Clearwater Analytics by 38.6% during the third quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock worth $90,000 after buying an additional 995 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Clearwater Analytics Trading Down 1.9 %

Shares of Clearwater Analytics stock opened at $26.51 on Monday. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71. The firm’s 50 day simple moving average is $28.28 and its two-hundred day simple moving average is $27.94. 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 firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results 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 firm had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. Analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Activity at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 76,256 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $2,293,017.92. Following the completion of the transaction, the executive now owns 78,363 shares of the company’s stock, valued at $2,356,375.41. The trade was a 49.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 615,855 shares in the company, valued at $15,944,485.95. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock worth $18,688,862 over the last quarter. Insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CWAN shares. UBS Group lifted their price target on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada boosted their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price target for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. Morgan Stanley reiterated an “overweight” rating and set a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Finally, Oppenheimer raised their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.