Envestnet Asset Management Inc. Grows Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Envestnet Asset Management Inc. boosted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,274 shares of the company's stock after acquiring an additional 55,762 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Clearwater Analytics worth $11,759,000 at the end of the most recent reporting period.

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

Insider Activity at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 218,687 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $6,575,918.09. Following the completion of the sale, the chief executive officer now owns 681,588 shares in the company, valued at approximately $20,495,351.16. This trade represents a 24.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 76,256 shares of the company'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 $2,293,017.92. Following the transaction, the executive now owns 78,363 shares in the company, valued at $2,356,375.41. The trade was a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 644,510 shares of company stock valued at $18,478,363. 4.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CWAN. UBS Group upped 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. Wells Fargo & Company decreased their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research report on Tuesday. DA Davidson raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and cut their price objective for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Royal Bank of Canada raised their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Morgan Stanley reissued an "overweight" rating and set a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.30.

Clearwater Analytics Price Performance

CWAN stock traded up $1.10 during midday trading on Wednesday, hitting $23.01. The company's stock had a trading volume of 318,656 shares, compared to its average volume of 2,551,102. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $35.71. The company has a 50 day moving average of $26.48 and a two-hundred day moving average of $27.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly 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). 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 during the quarter, compared to analysts' expectations of $120.34 million. On average, analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

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.