Brown Capital Management LLC Reduces Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Brown Capital Management LLC cut its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 19.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,373,609 shares of the company's stock after selling 568,767 shares during the period. Clearwater Analytics comprises approximately 1.3% of Brown Capital Management LLC's investment portfolio, making the stock its 29th biggest holding. Brown Capital Management LLC owned approximately 0.96% of Clearwater Analytics worth $59,934,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CWAN. Advisors Asset Management Inc. increased its stake in shares of Clearwater Analytics by 268.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company's stock valued at $30,000 after purchasing an additional 1,234 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Clearwater Analytics in the 3rd quarter valued at $45,000. Financial Management Professionals Inc. purchased a new stake in Clearwater Analytics in the 3rd quarter worth $58,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Clearwater Analytics by 124.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company's stock valued at $81,000 after purchasing an additional 2,425 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in Clearwater Analytics in the 2nd quarter valued at about $90,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Clearwater Analytics Stock Up 2.8 %

CWAN stock traded up $0.85 during trading on Thursday, hitting $31.75. 2,070,676 shares of the company's stock were exchanged, compared to its average volume of 1,599,464. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 3,173.17, a PEG ratio of 11.01 and a beta of 0.61. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $35.71. 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 business has a 50-day moving average price of $26.82 and a two-hundred day moving average price of $22.78.

Analysts Set New Price Targets

CWAN has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. DA Davidson cut shares of Clearwater Analytics from a "buy" rating to a "neutral" rating and boosted their price target for the company from $31.00 to $35.00 in a research report on Friday, November 8th. Citigroup began coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a "buy" rating and a $28.00 price objective for the company. Wells Fargo & Company upped their price objective on Clearwater Analytics from $23.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their target price on Clearwater Analytics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $30.67.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Friday, November 15th. The shares were sold at an average price of $30.34, for a total value of $567,358.00. Following the transaction, the chief financial officer now directly owns 219,044 shares in the company, valued at $6,645,794.96. This trade represents a 7.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $31.34, for a total transaction of $121,912.60. Following the completion of the sale, the executive now directly owns 6,373 shares in the company, valued at approximately $199,729.82. The trade was a 37.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,852,086 shares of company stock valued at $44,971,367 in the last ninety days. Insiders own 3.25% 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.