Allspring Global Investments Holdings LLC Sells 966,055 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Allspring Global Investments Holdings LLC cut its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 22.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,372,096 shares of the company's stock after selling 966,055 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.37% of Clearwater Analytics worth $85,145,000 at the end of the most recent quarter.

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

Clearwater Analytics Stock Down 1.3 %

NYSE:CWAN traded down $0.36 during trading hours on Monday, reaching $27.04. The company's stock had a trading volume of 1,491,531 shares, compared to its average volume of 1,455,732. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The company has a market cap of $6.64 billion, a price-to-earnings ratio of -338.00, a price-to-earnings-growth ratio of 9.16 and a beta of 0.62. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $27.65. The business's 50-day moving average is $24.85 and its 200-day moving average is $20.95.

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

Insider Transactions at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total value of $92,387.50. Following the transaction, the executive now directly owns 4,844 shares in the company, valued at approximately $115,045. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Warburg Pincus Llc sold 9,000,000 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total transaction of $201,690,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total transaction of $92,387.50. Following the completion of the sale, the executive now owns 4,844 shares in the company, valued at approximately $115,045. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,879,543 shares of company stock worth $247,145,339. 2.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CWAN has been the topic of several research analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $23.00 target price on shares of Clearwater Analytics in a research note on Monday, September 9th. Morgan Stanley upped their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday. Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Oppenheimer upped their price target on shares of Clearwater Analytics from $25.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, October 7th. Finally, Citigroup assumed coverage on Clearwater Analytics in a report on Monday, August 19th. They set a "buy" rating and a $28.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.67.

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.