Franklin Resources Inc. Invests $44.51 Million in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Franklin Resources Inc. bought a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,617,374 shares of the company's stock, valued at approximately $44,510,000. Franklin Resources Inc. owned about 0.65% of Clearwater Analytics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scalar Gauge Management LLC raised its holdings in shares of Clearwater Analytics by 3.5% in the 4th quarter. Scalar Gauge Management LLC now owns 586,998 shares of the company's stock valued at $16,154,000 after buying an additional 20,013 shares during the period. Alliancebernstein L.P. grew its position in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock valued at $202,931,000 after acquiring an additional 2,931,445 shares in the last quarter. Axiom Investors LLC DE lifted its position in shares of Clearwater Analytics by 9.3% during the fourth quarter. Axiom Investors LLC DE now owns 745,800 shares of the company's stock worth $20,524,000 after purchasing an additional 63,340 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock valued at $163,867,000 after purchasing an additional 2,950,555 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Clearwater Analytics in the fourth quarter valued at approximately $248,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CWAN shares. UBS Group raised 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. DA Davidson upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and decreased their target price for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. Piper Sandler raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, Clearwater Analytics has a consensus rating of "Moderate Buy" and an average price target of $33.80.

Clearwater Analytics Stock Down 4.1 %

Shares of NYSE CWAN traded down $0.99 during mid-day trading on Thursday, reaching $22.97. The company had a trading volume of 329,359 shares, compared to its average volume of 2,065,627. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $35.71. The stock has a market cap of $5.77 billion, a P/E ratio of 13.86, a PEG ratio of 8.23 and a beta of 0.76. 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 firm has a 50 day simple moving average of $27.46 and a two-hundred day simple moving average of $27.87.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The firm had revenue of $126.47 million during the quarter, compared to analysts' expectations of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. Sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the completion of the sale, the chief executive officer now directly owns 615,855 shares of the company's stock, valued at $15,944,485.95. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Subi Sethi sold 62,482 shares of the business'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 $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 644,510 shares of company stock worth $18,688,862 in the last 90 days. 4.60% of the stock is owned by 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.