Artisan Partners Limited Partnership Sells 849,009 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Artisan Partners Limited Partnership cut its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 18.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,669,967 shares of the company's stock after selling 849,009 shares during the period. Artisan Partners Limited Partnership owned approximately 1.49% of Clearwater Analytics worth $100,997,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Pier Capital LLC bought a new position in Clearwater Analytics in the fourth quarter valued at approximately $3,538,000. Zions Bancorporation N.A. bought a new position in shares of Clearwater Analytics in the 4th quarter valued at $1,076,000. EntryPoint Capital LLC acquired a new position in shares of Clearwater Analytics during the 4th quarter worth $359,000. Zevenbergen Capital Investments LLC bought a new stake in shares of Clearwater Analytics during the 4th quarter worth $16,843,000. Finally, Prudential Financial Inc. boosted its stake in Clearwater Analytics by 5.3% in the fourth quarter. Prudential Financial Inc. now owns 25,960 shares of the company's stock valued at $792,000 after buying an additional 1,312 shares in the last quarter. Institutional investors own 50.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CWAN. Piper Sandler raised shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. 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 report on Tuesday, December 3rd. UBS Group boosted their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Wells Fargo & Company increased their price target on Clearwater Analytics from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada boosted their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.80.

Insider Activity

In other news, CFO James S. Cox sold 18,700 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $26.58, for a total value of $497,046.00. Following the transaction, the chief financial officer now directly owns 358,502 shares of the company's stock, valued at $9,528,983.16. The trade was a 4.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sandeep Sahai sold 218,687 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $6,575,918.09. Following the sale, the chief executive officer now directly owns 681,588 shares of the company's stock, valued at $20,495,351.16. This represents a 24.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 644,510 shares of company stock valued at $18,688,862. 4.60% of the stock is currently owned by insiders.

Clearwater Analytics Trading Down 2.3 %

CWAN traded down $0.62 during midday trading on Tuesday, hitting $26.18. 1,695,288 shares of the company were exchanged, compared to its average volume of 2,029,261. The firm's 50 day moving average price is $28.21 and its 200-day moving average price is $27.98. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71. The firm has a market capitalization of $6.57 billion, a P/E ratio of 15.77, a P/E/G ratio of 8.23 and a beta of 0.69. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

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

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.