Norges Bank Acquires New Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Norges Bank purchased a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,158,519 shares of the company's stock, valued at approximately $59,402,000. Norges Bank owned about 0.87% of Clearwater Analytics at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blair William & Co. IL raised its position in Clearwater Analytics by 3,835.2% in the 4th quarter. Blair William & Co. IL now owns 1,754,732 shares of the company's stock valued at $48,290,000 after purchasing an additional 1,710,141 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Clearwater Analytics by 52.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company's stock valued at $126,972,000 after acquiring an additional 1,585,869 shares during the period. Elo Mutual Pension Insurance Co purchased a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $324,000. Pier Capital LLC acquired a new stake in Clearwater Analytics during the 4th quarter worth approximately $3,538,000. Finally, Zions Bancorporation N.A. purchased a new position in Clearwater Analytics during the 4th quarter worth $1,076,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. DA Davidson upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. UBS Group lifted their price target 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. Morgan Stanley reissued an "overweight" rating and set a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Royal Bank of Canada raised their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Piper Sandler upgraded Clearwater Analytics from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $28.00 to $36.00 in a research 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 stock. According to data from MarketBeat.com, Clearwater Analytics presently has an average rating of "Moderate Buy" and a consensus target price of $33.80.

Insider Buying and Selling

In other Clearwater Analytics news, insider Subi Sethi sold 62,482 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction 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 approximately $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the transaction, the chief executive officer now owns 615,855 shares in the company, valued at approximately $15,944,485.95. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 644,510 shares of company stock worth $18,688,862. Corporate insiders own 4.60% of the company's stock.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN traded down $0.87 on Tuesday, hitting $22.07. The company's stock had a trading volume of 2,376,020 shares, compared to its average volume of 2,061,283. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $35.71. The stock's 50-day moving average is $27.64 and its two-hundred day moving average is $27.90. 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 company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76.

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

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.