Geode Capital Management LLC Acquires 673,626 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Geode Capital Management LLC grew its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,186,137 shares of the company's stock after purchasing an additional 673,626 shares during the period. Geode Capital Management LLC owned approximately 1.69% of Clearwater Analytics worth $115,232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after purchasing an additional 468 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Clearwater Analytics in the 4th quarter valued at $57,000. R Squared Ltd acquired a new position in shares of Clearwater Analytics in the 4th quarter valued at $80,000. Nisa Investment Advisors LLC grew its stake in shares of Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock worth $86,000 after purchasing an additional 1,987 shares during the period. Finally, OFI Invest Asset Management bought a new stake in Clearwater Analytics in the fourth quarter valued at about $88,000. Institutional investors own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN traded up $0.16 on Monday, hitting $23.23. The company had a trading volume of 90,355 shares, compared to its average volume of 2,076,788. The stock has a 50 day moving average price of $27.25 and a 200 day moving average price of $27.85. 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 stock has a market cap of $5.83 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 8.23 and a beta of 0.76. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler raised shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and upped their target price for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. Morgan Stanley reissued an "overweight" rating and issued a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Wells Fargo & Company lifted their price objective 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. DA Davidson upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and lowered their price target for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Finally, UBS Group upped their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. According to MarketBeat, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and an average price target of $33.80.

Insider Activity

In other news, insider Subi Sethi sold 62,482 shares of the company's stock in a transaction on 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 directly owns 144,973 shares in the company, valued at approximately $4,359,338.11. This represents a 30.12 % 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 firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total value of $503,778.00. Following the transaction, the chief financial officer now directly owns 279,857 shares of the company's stock, valued at approximately $7,539,347.58. This represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 594,510 shares of company stock valued at $17,394,362. 4.60% of the stock is owned by company insiders.

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.