JPMorgan Chase & Co. Has $76.46 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

JPMorgan Chase & Co. lessened its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 41.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,027,946 shares of the company's stock after selling 2,112,043 shares during the period. JPMorgan Chase & Co. owned about 1.23% of Clearwater Analytics worth $76,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wasatch Advisors LP boosted its position in Clearwater Analytics by 3.2% in the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company's stock valued at $457,909,000 after buying an additional 559,564 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Clearwater Analytics by 1.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company's stock valued at $210,659,000 after purchasing an additional 128,402 shares during the last quarter. William Blair Investment Management LLC grew its stake in Clearwater Analytics by 0.6% during the 2nd quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company's stock valued at $193,178,000 after purchasing an additional 66,528 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in Clearwater Analytics by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company's stock valued at $171,156,000 after purchasing an additional 107,210 shares in the last quarter. Finally, State Street Corp increased its holdings in Clearwater Analytics by 38.7% during the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company's stock worth $91,341,000 after purchasing an additional 1,009,548 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

NYSE:CWAN traded up $0.65 during midday trading on Friday, reaching $27.86. 1,337,313 shares of the company traded hands, compared to its average volume of 1,312,406. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.62 and a twelve month high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a fifty day moving average price of $29.30 and a 200 day moving average price of $25.11. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 2,788.79, a price-to-earnings-growth ratio of 10.57 and a beta of 0.69.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 139,172 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the completion of the sale, the chief executive officer now directly owns 441,724 shares of the company's stock, valued at $12,783,492.56. This represents a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total transaction of $489,192.00. Following the completion of the transaction, the chief financial officer now owns 224,044 shares in the company, valued at approximately $5,860,991.04. This trade represents a 7.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,942 shares of company stock valued at $5,972,366 in the last quarter. Company insiders own 4.60% of the company's stock.

Analyst Upgrades and Downgrades

CWAN has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a "sell" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. Piper Sandler upped their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Morgan Stanley lifted their price target on Clearwater Analytics from $20.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Oppenheimer boosted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. One 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. According to data from MarketBeat.com, Clearwater Analytics has a consensus rating of "Hold" and an average price target of $31.89.

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.