Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Position Boosted by Arizona State Retirement System

Arizona State Retirement System increased its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 23.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,156 shares of the company's stock after purchasing an additional 10,990 shares during the quarter. Arizona State Retirement System's holdings in Clearwater Analytics were worth $1,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Aigen Investment Management LP boosted its stake in shares of Clearwater Analytics by 20.4% in the fourth quarter. Aigen Investment Management LP now owns 24,921 shares of the company's stock valued at $686,000 after purchasing an additional 4,220 shares during the period. Atria Investments Inc boosted its stake in shares of Clearwater Analytics by 16.6% in the fourth quarter. Atria Investments Inc now owns 42,733 shares of the company's stock valued at $1,176,000 after purchasing an additional 6,080 shares during the period. Assetmark Inc. purchased a new position in shares of Clearwater Analytics in the fourth quarter valued at $111,000. Cookson Peirce & Co. Inc. purchased a new position in shares of Clearwater Analytics in the fourth quarter valued at $605,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Clearwater Analytics by 26.3% in the fourth quarter. Victory Capital Management Inc. now owns 22,001 shares of the company's stock valued at $605,000 after purchasing an additional 4,578 shares during the period. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several analysts recently issued reports on CWAN shares. Oppenheimer upped their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Wells Fargo & Company upped their price target on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. UBS Group upped their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, DA Davidson raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and cut their price target for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.80.

Clearwater Analytics Stock Performance

Shares of CWAN stock traded up $0.48 during trading hours on Friday, reaching $26.88. The stock had a trading volume of 2,552,303 shares, compared to its average volume of 2,527,175. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.62 and a twelve month high of $35.71. The firm has a 50-day simple moving average of $28.31 and a 200-day simple moving average of $27.73. The firm has a market capitalization of $6.75 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. As a group, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 218,687 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $6,575,918.09. Following the completion of the transaction, the chief executive officer now owns 681,588 shares in the company, valued at $20,495,351.16. This represents a 24.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Souvik Das sold 76,844 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,310,699.08. Following the completion of the transaction, the chief technology officer now owns 68,902 shares of the company's stock, valued at $2,071,883.14. This represents a 52.72 % 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 valued at $18,746,271 in the last quarter. Company insiders own 4.60% of the company's stock.

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.