Principal Financial Group Inc. Has $2.14 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Principal Financial Group Inc. raised its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 348.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,793 shares of the company's stock after acquiring an additional 65,878 shares during the quarter. Principal Financial Group Inc.'s holdings in Clearwater Analytics were worth $2,141,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC acquired a new stake in Clearwater Analytics during the 2nd quarter valued at $43,280,000. Champlain Investment Partners LLC purchased a new position in Clearwater Analytics in the 3rd quarter valued at about $53,559,000. State Street Corp grew its stake in shares of Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company's stock valued at $91,341,000 after acquiring an additional 1,009,548 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Clearwater Analytics by 3.2% during the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company's stock worth $457,909,000 after acquiring an additional 559,564 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new position in shares of Clearwater Analytics in the third quarter worth about $11,071,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Clearwater Analytics Price Performance

Clearwater Analytics stock traded up $0.65 during trading hours on Friday, hitting $27.86. 1,337,313 shares of the company traded hands, compared to its average volume of 1,312,406. The firm's 50-day simple moving average is $29.30 and its two-hundred day simple moving average is $25.11. The firm has a market cap of $6.88 billion, a P/E ratio of 2,788.79, a P/E/G ratio of 10.57 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Insider Activity at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $25.38, for a total transaction of $98,728.20. Following the completion of the sale, the executive now directly owns 6,373 shares of the company's stock, valued at $161,746.74. This represents a 37.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.65, for a total transaction of $554,455.00. Following the completion of the transaction, the chief financial officer now owns 214,044 shares in the company, valued at approximately $6,346,404.60. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,942 shares of company stock worth $5,972,366 over the last quarter. 4.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on CWAN shares. Piper Sandler lifted their price target on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. DA Davidson cut shares of Clearwater Analytics from a "buy" rating to a "neutral" rating and increased their price target for the stock from $31.00 to $35.00 in a research report on Friday, November 8th. The Goldman Sachs Group boosted their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the company a "sell" rating in a report on Thursday, November 7th. Finally, Morgan Stanley increased their target price on Clearwater Analytics from $20.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $31.89.

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.