Scalar Gauge Management LLC Has $7.76 Million Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Scalar Gauge Management LLC boosted its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 139.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 419,000 shares of the company’s stock after purchasing an additional 244,000 shares during the period. Clearwater Analytics comprises 4.5% of Scalar Gauge Management LLC’s holdings, making the stock its 6th biggest holding. Scalar Gauge Management LLC owned approximately 0.17% of Clearwater Analytics worth $7,760,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in shares of Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after buying an additional 1,234 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Clearwater Analytics by 389.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after purchasing an additional 1,549 shares during the period. Amalgamated Bank bought a new stake in shares of Clearwater Analytics during the second quarter worth $90,000. RiverPark Advisors LLC boosted its stake in shares of Clearwater Analytics by 361.0% during the first quarter. RiverPark Advisors LLC now owns 5,366 shares of the company’s stock valued at $95,000 after purchasing an additional 4,202 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of Clearwater Analytics in the second quarter worth about $157,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $24.44, for a total transaction of $457,028.00. Following the completion of the sale, the chief financial officer now owns 227,503 shares in the company, valued at approximately $5,560,173.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,897,118 shares of company stock valued at $247,319,596. 2.10% of the stock is owned by company insiders.

Clearwater Analytics Price Performance

NYSE CWAN opened at $25.66 on Tuesday. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $25.81. The firm’s fifty day simple moving average is $23.01 and its two-hundred day simple moving average is $19.74. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $6.31 billion, a P/E ratio of -320.75, a P/E/G ratio of 8.54 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The firm 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 firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) EPS. Analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CWAN has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Citigroup initiated coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 price objective on the stock. Wells Fargo & Company upped their target price on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Monday, July 8th. Finally, Piper Sandler restated a “neutral” rating and issued a $23.00 price objective on shares of Clearwater Analytics in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus target price of $23.90.

About Clearwater Analytics

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.