Clearbridge Investments LLC Takes $15.48 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Clearbridge Investments LLC acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 562,406 shares of the company's stock, valued at approximately $15,477,000. Clearbridge Investments LLC owned 0.23% of Clearwater Analytics at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its stake in Clearwater Analytics by 18.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 75,155 shares of the company's stock worth $2,049,000 after purchasing an additional 11,450 shares during the period. Schroder Investment Management Group boosted its position in shares of Clearwater Analytics by 6.3% in the fourth quarter. Schroder Investment Management Group now owns 25,662 shares of the company's stock valued at $710,000 after acquiring an additional 1,517 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Clearwater Analytics during the fourth quarter valued at approximately $25,752,000. Orion Portfolio Solutions LLC increased its holdings in Clearwater Analytics by 13.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 15,558 shares of the company's stock worth $428,000 after acquiring an additional 1,847 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in Clearwater Analytics by 180.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 74,541 shares of the company's stock worth $2,051,000 after purchasing an additional 47,949 shares in the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the firm's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $25.89, for a total value of $1,294,500.00. Following the sale, the chief executive officer now owns 615,855 shares of the company's stock, valued at $15,944,485.95. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Subi Sethi sold 62,482 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the transaction, the insider now owns 144,973 shares in the company, valued at $4,359,338.11. The trade was a 30.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 644,510 shares of company stock worth $18,688,862. Company insiders own 4.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CWAN shares. UBS Group boosted their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Royal Bank of Canada boosted their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Piper Sandler raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and raised their price target for the company from $28.00 to $36.00 in a report on Thursday, February 20th. Wells Fargo & Company boosted their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the stock an "overweight" 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 lowered their target price for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.80.

Clearwater Analytics Price Performance

NYSE CWAN traded down $0.53 on Monday, reaching $22.91. 3,565,955 shares of the company's stock traded hands, compared to its average volume of 2,054,885. The stock has a market cap of $5.75 billion, a PE ratio of 13.80, a P/E/G ratio of 8.23 and a beta of 0.76. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $35.71. The stock has a 50-day simple moving average of $27.91 and a 200 day simple moving average of $27.97. 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 (NYSE:CWAN - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. As a group, research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current 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.