Principal Financial Group Inc. Boosts Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Principal Financial Group Inc. raised its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 1,600.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,442,218 shares of the company's stock after buying an additional 1,357,425 shares during the quarter. Principal Financial Group Inc. owned approximately 0.58% of Clearwater Analytics worth $39,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CWAN. GAMMA Investing LLC grew its holdings in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after buying an additional 468 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Clearwater Analytics in the 3rd quarter valued at about $45,000. Financial Management Professionals Inc. acquired a new position in shares of Clearwater Analytics in the 3rd quarter valued at about $58,000. R Squared Ltd acquired a new position in shares of Clearwater Analytics in the 4th quarter valued at about $80,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock valued at $86,000 after purchasing an additional 1,987 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday. Morgan Stanley reaffirmed an "overweight" rating and issued a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research note on Friday. UBS Group lifted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday. Oppenheimer lifted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Finally, DA Davidson raised Clearwater Analytics from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.80.

Clearwater Analytics Stock Performance

Clearwater Analytics stock opened at $31.35 on Friday. The stock's 50 day moving average price is $28.03 and its 200 day moving average price is $27.11. The firm has a market capitalization of $7.74 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 7.43 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. As a group, sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sandeep Sahai sold 139,172 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the sale, the chief executive officer now directly owns 441,724 shares of the company's stock, valued at approximately $12,783,492.56. This represents a 23.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Scott Stanley Erickson sold 76,256 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $2,293,017.92. Following the completion of the sale, the executive now directly owns 78,363 shares in the company, valued at $2,356,375.41. This represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 733,431 shares of company stock worth $21,444,493. 4.60% of the stock is currently owned by insiders.

Clearwater Analytics 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.

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