Scalar Gauge Management LLC Has $7.76 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Scalar Gauge Management LLC raised its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 139.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 419,000 shares of the company's stock after purchasing an additional 244,000 shares during the period. Clearwater Analytics accounts for approximately 4.5% of Scalar Gauge Management LLC's portfolio, making the stock its 6th largest holding. Scalar Gauge Management LLC owned 0.17% of Clearwater Analytics worth $7,760,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CWAN. Wasatch Advisors LP raised its stake in Clearwater Analytics by 35.6% in the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company's stock valued at $289,962,000 after acquiring an additional 4,304,286 shares during the period. Vanguard Group Inc. raised its holdings in Clearwater Analytics by 36.6% during the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company's stock valued at $258,628,000 after acquiring an additional 3,461,158 shares during the period. William Blair Investment Management LLC lifted its position in shares of Clearwater Analytics by 42.5% during the first quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company's stock worth $183,344,000 after acquiring an additional 3,090,352 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of Clearwater Analytics during the second quarter worth $43,280,000. Finally, Bamco Inc. NY boosted its holdings in shares of Clearwater Analytics by 30.8% in the first quarter. Bamco Inc. NY now owns 5,359,172 shares of the company's stock worth $94,804,000 after acquiring an additional 1,262,150 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction on Monday, July 15th. The shares were sold at an average price of $18.92, for a total value of $213,323.00. Following the transaction, the chief financial officer now owns 232,503 shares in the company, valued at approximately $4,398,956.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO James S. Cox sold 11,275 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $18.92, for a total transaction of $213,323.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company's stock, valued at $4,398,956.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $24.44, for a total transaction of $457,028.00. Following the sale, the chief financial officer now owns 227,503 shares of the company's stock, valued at $5,560,173.32. The disclosure for this sale can be found here. Insiders have sold 10,897,118 shares of company stock worth $247,319,596 over the last ninety days. Insiders own 2.10% of the company's stock.

Clearwater Analytics Price Performance

NYSE:CWAN traded up $0.19 during midday trading on Tuesday, hitting $25.85. The company had a trading volume of 1,168,559 shares, compared to its average volume of 1,509,346. The company has a market capitalization of $6.35 billion, a PE ratio of -323.13, a P/E/G ratio of 8.54 and a beta of 0.61. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $26.02. The stock's fifty day moving average price is $23.14 and its 200-day moving average price is $19.80.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $106.79 million during the quarter, compared to analysts' expectations of $105.51 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The company's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) EPS. As a group, research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on CWAN. Royal Bank of Canada lifted their target price on Clearwater Analytics from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Wednesday, September 18th. Piper Sandler reiterated a "neutral" rating and issued a $23.00 target price on shares of Clearwater Analytics in a research note on Monday, September 9th. Citigroup initiated coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a "buy" rating and a $28.00 price target for the company. Oppenheimer raised shares of Clearwater Analytics from a "market perform" rating to an "outperform" rating and set a $25.00 price target on the stock in a report on Monday, July 8th. Finally, Wells Fargo & Company lifted their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.90.

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.