Fred Alger Management LLC Has $53.33 Million Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Fred Alger Management LLC lowered its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 28.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,112,142 shares of the company's stock after selling 840,492 shares during the quarter. Fred Alger Management LLC owned 0.86% of Clearwater Analytics worth $53,332,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company's stock valued at $30,000 after buying an additional 1,234 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Clearwater Analytics in the 3rd quarter worth approximately $45,000. Financial Management Professionals Inc. acquired a new stake in shares of Clearwater Analytics during the 3rd quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Clearwater Analytics by 124.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company's stock valued at $81,000 after purchasing an additional 2,425 shares during the period. Finally, Amalgamated Bank acquired a new position in shares of Clearwater Analytics in the second quarter valued at $90,000. 50.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CWAN shares. Morgan Stanley lifted their price target on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $23.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Piper Sandler increased their price target on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Oppenheimer lifted their price objective on Clearwater Analytics from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Finally, Citigroup assumed coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a "buy" rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $31.11.

Insider Transactions at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total transaction of $92,387.50. Following the sale, the executive now directly owns 4,844 shares of the company's stock, valued at $115,045. This represents a 44.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $24.44, for a total transaction of $457,028.00. Following the completion of the sale, the chief financial officer now directly owns 227,503 shares of the company's stock, valued at approximately $5,560,173.32. This represents a 7.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,770 shares of company stock worth $1,826,606. Insiders own 4.60% of the company's stock.

Clearwater Analytics Price Performance

CWAN stock traded down $0.13 during midday trading on Friday, reaching $31.04. 1,608,663 shares of the company's stock traded hands, compared to its average volume of 1,613,181. The company has a 50-day simple moving average of $27.80 and a two-hundred day simple moving average of $23.41. 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 1-year low of $15.62 and a 1-year high of $35.71. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 3,107.11, a PEG ratio of 11.13 and a beta of 0.61.

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.