Legal & General Group Plc Boosts Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Legal & General Group Plc raised its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 29.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,022 shares of the company's stock after buying an additional 42,409 shares during the quarter. Legal & General Group Plc owned about 0.08% of Clearwater Analytics worth $5,174,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. FMR LLC boosted 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 valued at $232,000 after buying an additional 5,790 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Clearwater Analytics during the 3rd quarter valued at about $237,000. Barclays PLC grew its stake in shares of Clearwater Analytics by 105.6% in the third quarter. Barclays PLC now owns 571,860 shares of the company's stock worth $14,439,000 after acquiring an additional 293,719 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Clearwater Analytics by 30.4% during the third quarter. Sanctuary Advisors LLC now owns 21,126 shares of the company's stock valued at $533,000 after purchasing an additional 4,923 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Clearwater Analytics by 348.3% during the third quarter. Principal Financial Group Inc. now owns 84,793 shares of the company's stock valued at $2,141,000 after purchasing an additional 65,878 shares during the period. Hedge funds and other institutional investors own 50.10% of the company's stock.

Insider Activity at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $27.63, for a total transaction of $1,381,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $17,016,073.65. This represents a 7.51 % 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 business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the completion of the sale, the executive now owns 78,363 shares in the company, valued at $2,356,375.41. This represents a 49.32 % decrease in their position. 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. Corporate insiders own 4.60% of the company's stock.

Wall Street Analysts Forecast Growth

CWAN has been the subject of a number of research reports. DA Davidson upgraded shares of 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 research note on Tuesday, January 14th. UBS Group raised their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Piper Sandler raised shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and upped their price target for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Morgan Stanley reissued an "overweight" rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Finally, Royal Bank of Canada upped their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Clearwater Analytics currently has an average rating of "Moderate Buy" and an average target price of $33.30.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock traded up $0.43 during trading hours on Thursday, hitting $22.73. The company's stock had a trading volume of 1,477,542 shares, compared to its average volume of 2,583,135. The company has a market cap of $5.71 billion, a PE ratio of 13.69, 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. The business has a 50 day moving average price of $26.38 and a two-hundred day moving average price of $27.67. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly 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). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The business had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics Company 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.