KLP Kapitalforvaltning AS Makes New Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

KLP Kapitalforvaltning AS bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 40,400 shares of the company's stock, valued at approximately $1,112,000.

Other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its position in Clearwater Analytics by 38.6% in the third quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company's stock worth $90,000 after buying an additional 995 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Clearwater Analytics by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,413 shares of the company's stock worth $32,709,000 after acquiring an additional 60,948 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Clearwater Analytics by 6.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 79,809 shares of the company's stock worth $2,015,000 after acquiring an additional 4,821 shares during the last quarter. FMR LLC raised its position in shares of Clearwater Analytics by 171.4% during the third quarter. FMR LLC now owns 9,169 shares of the company's stock worth $232,000 after purchasing an additional 5,790 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Clearwater Analytics by 129.1% during the third quarter. Glenmede Trust Co. NA now owns 69,828 shares of the company's stock valued at $1,763,000 after purchasing an additional 39,343 shares during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Stock Down 6.2 %

CWAN traded down $1.66 during midday trading on Thursday, hitting $25.07. 1,794,373 shares of the company's stock traded hands, compared to its average volume of 2,035,156. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a market cap of $6.29 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $35.71. The stock's fifty day simple moving average is $28.10 and its 200-day simple moving average is $27.95.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CWAN shares. Piper Sandler raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Royal Bank of Canada upped their price target on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. UBS Group lifted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $33.80.

Insiders Place Their Bets

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 76,256 shares of Clearwater Analytics 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 $2,293,017.92. Following the transaction, the executive now directly owns 78,363 shares of the company's stock, valued at $2,356,375.41. The trade was a 49.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Subi Sethi sold 62,482 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 644,510 shares of company stock valued at $18,688,862 in the last quarter. Insiders own 4.60% of the company's stock.

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.