Zweig DiMenna Associates LLC Makes New Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Zweig DiMenna Associates LLC purchased a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 195,700 shares of the company's stock, valued at approximately $4,941,000. Zweig DiMenna Associates LLC owned about 0.08% of Clearwater Analytics at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Moody Aldrich Partners LLC acquired a new stake in Clearwater Analytics in the 3rd quarter valued at about $7,372,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $45,000. Raymond James & Associates lifted its position in Clearwater Analytics by 1.5% during the third quarter. Raymond James & Associates now owns 658,579 shares of the company's stock worth $16,629,000 after buying an additional 9,976 shares in the last quarter. Creative Planning acquired a new position in Clearwater Analytics during the third quarter worth $505,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Clearwater Analytics in the 3rd quarter valued at $117,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Up 0.1 %

Shares of CWAN stock traded up $0.03 during trading on Friday, reaching $26.30. The company's stock had a trading volume of 1,367,163 shares, compared to its average volume of 1,453,757. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $27.65. The stock's 50-day moving average price is $25.04 and its 200 day moving average price is $21.10. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of -328.13, a P/E/G ratio of 9.16 and a beta of 0.62. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78.

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 for the quarter, hitting 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 company earned ($0.03) earnings per share. The company's revenue was up 18.8% on a year-over-year basis. On average, research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current year.

Analysts Set New Price Targets

CWAN has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their price target on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, September 18th. Citigroup began coverage on Clearwater Analytics in a research report on Monday, August 19th. They issued a "buy" rating and a $28.00 target price on the stock. Oppenheimer increased their price target on Clearwater Analytics from $25.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $23.00 target price on shares of Clearwater Analytics in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.67.

Insider Buying and Selling

In other news, CFO James S. Cox sold 14,850 shares of the firm's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.02, for a total value of $326,997.00. Following the sale, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $5,119,716.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now directly owns 224,044 shares in the company, valued at $5,860,991.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James S. Cox sold 14,850 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.02, for a total value of $326,997.00. Following the transaction, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $5,119,716.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,879,543 shares of company stock worth $247,145,339 over the last 90 days. 2.10% of the stock is owned by insiders.

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.