Granite Investment Partners LLC Sells 24,572 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Granite Investment Partners LLC cut its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 231,253 shares of the company's stock after selling 24,572 shares during the period. Granite Investment Partners LLC owned 0.09% of Clearwater Analytics worth $6,364,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CWAN. GAMMA Investing LLC raised its holdings 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 acquired a new stake in Clearwater Analytics in the 4th quarter valued at $57,000. R Squared Ltd bought a new stake in Clearwater Analytics in the fourth quarter valued at $80,000. Aster Capital Management DIFC Ltd bought a new position in shares of Clearwater Analytics during the fourth quarter valued at $82,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock valued at $86,000 after purchasing an additional 1,987 shares in the last quarter. Institutional investors own 50.10% of the company's stock.

Clearwater Analytics Trading Down 0.2 %

Shares of CWAN traded down $0.04 during mid-day trading on Thursday, reaching $23.04. 3,633,215 shares of the company were exchanged, compared to its average volume of 2,097,441. The business has a 50 day simple moving average of $26.91 and a two-hundred day simple moving average of $27.77. 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 capitalization of $5.78 billion, a PE ratio of 13.88, a PEG ratio of 8.23 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler upgraded shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and increased their price target for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Morgan Stanley restated an "overweight" rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Royal Bank of Canada boosted their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wells Fargo & Company boosted their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, 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 report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.80.

Insiders Place Their Bets

In other news, insider Subi Sethi sold 62,482 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the transaction, the insider now directly owns 144,973 shares of the company's stock, valued at $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $27.63, for a total value of $1,381,500.00. Following the completion of the transaction, the chief executive officer now owns 615,855 shares of the company's stock, valued at $17,016,073.65. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 644,510 shares of company stock worth $18,478,363. Insiders own 4.60% of the company's stock.

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.