Park Avenue Securities LLC Acquires New Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Park Avenue Securities LLC purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,548 shares of the company's stock, valued at approximately $345,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CWAN. GAMMA Investing LLC increased its stake in shares of Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock worth $35,000 after purchasing an additional 468 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Clearwater Analytics in the 3rd quarter worth about $45,000. Financial Management Professionals Inc. bought a new stake in Clearwater Analytics in the 3rd quarter valued at about $58,000. Advisors Asset Management Inc. grew its position in shares of Clearwater Analytics by 38.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company's stock worth $90,000 after purchasing an additional 995 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Clearwater Analytics by 124.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company's stock worth $81,000 after purchasing an additional 2,425 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CWAN. Royal Bank of Canada cut their price target on Clearwater Analytics from $36.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, January 14th. Morgan Stanley upgraded Clearwater Analytics from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $30.00 to $34.00 in a research note on Friday, January 17th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a "sell" rating in a research note on Thursday, November 7th. Finally, Piper Sandler boosted their price target on Clearwater Analytics from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.33.

Clearwater Analytics Price Performance

NYSE CWAN traded down $0.05 on Friday, hitting $28.28. 1,812,217 shares of the company's stock were exchanged, compared to its average volume of 1,849,384. The stock has a 50-day moving average of $28.92 and a 200-day moving average of $26.03. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 2,831.03, a P/E/G ratio of 7.66 and a beta of 0.72.

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 139,172 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the completion of the transaction, the chief executive officer now directly owns 441,724 shares in the company, valued at approximately $12,783,492.56. This represents a 23.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total transaction of $503,778.00. Following the transaction, the chief financial officer now owns 279,857 shares of the company's stock, valued at $7,539,347.58. This trade represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 253,052 shares of company stock worth $7,182,724 over the last three months. Insiders own 4.60% of the company's stock.

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.