Verition Fund Management LLC Trims Stock Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Verition Fund Management LLC reduced its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 36.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,106 shares of the company's stock after selling 18,043 shares during the quarter. Verition Fund Management LLC's holdings in Clearwater Analytics were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Clearwater Analytics in the 3rd quarter valued at about $45,000. Financial Management Professionals Inc. acquired a new stake in Clearwater Analytics in the third quarter valued at approximately $58,000. Benjamin F. Edwards & Company Inc. grew its holdings in Clearwater Analytics by 124.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company's stock worth $81,000 after purchasing an additional 2,425 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Clearwater Analytics during the second quarter worth $90,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Clearwater Analytics by 38.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company's stock valued at $90,000 after purchasing an additional 995 shares during the last quarter. 50.10% of the stock is owned by institutional investors.

Insider Activity

In other Clearwater Analytics news, CEO Sandeep Sahai sold 139,172 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.94, for a total value of $4,027,637.68. Following the completion of the sale, the chief executive officer now owns 441,724 shares in the company, valued at approximately $12,783,492.56. This represents a 23.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $24.44, for a total value of $457,028.00. Following the transaction, the chief financial officer now owns 227,503 shares in the company, valued at approximately $5,560,173.32. This represents a 7.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 203,052 shares of company stock worth $5,761,856 over the last 90 days. 4.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on CWAN shares. Piper Sandler raised their price target on Clearwater Analytics from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Citigroup assumed coverage on Clearwater Analytics in a report on Monday, August 19th. They issued a "buy" rating and a $28.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the stock a "sell" rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on Clearwater Analytics from $33.00 to $35.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, DA Davidson lowered shares of Clearwater Analytics from a "buy" rating to a "neutral" rating and raised their price target for the stock from $31.00 to $35.00 in a research report on Friday, November 8th. One equities research 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 MarketBeat, Clearwater Analytics has an average rating of "Hold" and a consensus price target of $31.89.

Clearwater Analytics Price Performance

Shares of CWAN stock traded up $0.19 during trading hours on Tuesday, hitting $29.02. 3,548,951 shares of the company's stock were exchanged, compared to its average volume of 1,674,498. The firm has a 50 day moving average of $28.41 and a two-hundred day moving average of $23.99. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The firm has a market cap of $7.17 billion, a P/E ratio of 2,901.50, a P/E/G ratio of 10.62 and a beta of 0.68. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

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.