Magnetar Financial LLC Invests $626,000 in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Magnetar Financial LLC acquired a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 22,737 shares of the company's stock, valued at approximately $626,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CWAN. GAMMA Investing LLC increased its position in Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock worth $35,000 after acquiring an additional 468 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Clearwater Analytics during the 4th quarter worth approximately $57,000. R Squared Ltd bought a new position in shares of Clearwater Analytics during the fourth quarter worth approximately $80,000. Nisa Investment Advisors LLC raised its position in shares of Clearwater Analytics by 174.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock valued at $86,000 after buying an additional 1,987 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Clearwater Analytics in the fourth quarter valued at approximately $88,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Analyst Ratings Changes

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

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Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $27.63, for a total transaction of $1,381,500.00. Following the sale, the chief executive officer now owns 615,855 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $26.58, for a total transaction of $497,046.00. Following the completion of the sale, the chief financial officer now owns 358,502 shares in the company, valued at $9,528,983.16. This represents a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 644,510 shares of company stock worth $18,688,862. 4.60% of the stock is owned by company insiders.

Clearwater Analytics Stock Down 1.2 %

Shares of NYSE CWAN traded down $0.33 during mid-day trading on Wednesday, reaching $27.27. 1,658,389 shares of the company's stock traded hands, compared to its average volume of 1,919,857. The stock has a market cap of $6.85 billion, a P/E ratio of 16.43, a PEG ratio of 8.23 and a beta of 0.69. 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 business has a 50-day simple moving average of $28.31 and a 200 day simple moving average of $27.87. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $120.34 million. On average, analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

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.