Cannon Global Investment Management LLC Makes New $858,000 Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Cannon Global Investment Management LLC acquired a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,500 shares of the company's stock, valued at approximately $858,000. Clearwater Analytics accounts for about 2.3% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 7th biggest position.

Other hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC lifted its position in Clearwater Analytics by 213.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company's stock valued at $36,000 after buying an additional 1,207 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Clearwater Analytics by 33.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company's stock valued at $49,000 after buying an additional 616 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in Clearwater Analytics in the fourth quarter valued at about $90,000. Asset Management One Co. Ltd. acquired a new position in Clearwater Analytics in the fourth quarter valued at about $134,000. Finally, D.A. Davidson & CO. acquired a new position in Clearwater Analytics in the fourth quarter valued at about $211,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CWAN shares. Wells Fargo & Company reduced their price target on shares of Clearwater Analytics from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Clearwater Analytics from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, May 2nd. Finally, Morgan Stanley reissued an "equal weight" rating and set a $19.00 price target on shares of Clearwater Analytics in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Clearwater Analytics currently has an average rating of "Moderate Buy" and an average price target of $21.70.

Insider Activity

In other news, insider Subi Sethi sold 18,599 shares of Clearwater Analytics stock in a transaction on Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the transaction, the insider now directly owns 77,519 shares of the company's stock, valued at approximately $1,508,519.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Clearwater Analytics news, CTO Souvik Das sold 50,000 shares of the business's stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $19.96, for a total value of $998,000.00. Following the transaction, the chief technology officer now directly owns 33,142 shares of the company's stock, valued at approximately $661,514.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Subi Sethi sold 18,599 shares of the business's stock in a transaction on Monday, May 20th. The shares were sold at an average price of $19.46, for a total transaction of $361,936.54. Following the completion of the transaction, the insider now directly owns 77,519 shares in the company, valued at $1,508,519.74. The disclosure for this sale can be found here. Insiders have sold 7,193,079 shares of company stock valued at $141,831,984 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Clearwater Analytics Stock Up 0.4 %

CWAN stock traded up $0.08 during midday trading on Friday, reaching $18.52. 23,553,553 shares of the company were exchanged, compared to its average volume of 1,616,120. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.59 and a current ratio of 5.59. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.28 and a 1-year high of $21.89. The stock's 50-day simple moving average is $18.48 and its 200 day simple moving average is $18.48. The company has a market cap of $4.55 billion, a price-to-earnings ratio of -231.50, a price-to-earnings-growth ratio of 7.20 and a beta of 0.58.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The company had revenue of $102.70 million for the quarter, compared to analysts' expectations of $100.55 million. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.25%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. On average, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.13 earnings per share for the current 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.