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

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

A number of other institutional investors have also made changes to their positions in CWAN. Vanguard Group Inc. boosted its position in shares of Clearwater Analytics by 17.2% during the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company's stock worth $267,676,000 after buying an additional 2,219,459 shares during the period. Advisors Asset Management Inc. boosted its holdings in Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company's stock valued at $30,000 after acquiring an additional 1,234 shares during the period. Price T Rowe Associates Inc. MD grew its position in Clearwater Analytics by 38.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,573 shares of the company's stock valued at $771,000 after acquiring an additional 12,200 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Clearwater Analytics by 24.4% during the first quarter. Public Employees Retirement System of Ohio now owns 313,123 shares of the company's stock worth $5,539,000 after purchasing an additional 61,445 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of Clearwater Analytics by 25.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 994,017 shares of the company's stock worth $17,584,000 after purchasing an additional 201,217 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. DA Davidson cut shares of Clearwater Analytics from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $31.00 to $35.00 in a report on Friday, November 8th. Morgan Stanley boosted their price target on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their price objective on Clearwater Analytics from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Friday. Citigroup assumed coverage on Clearwater Analytics in a report on Monday, August 19th. They issued a "buy" rating and a $28.00 target price for the company. Finally, The Goldman Sachs Group upped their price target on Clearwater Analytics from $20.00 to $22.00 and gave the stock a "sell" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.11.

Insider Buying and Selling

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the completion of the sale, the executive now directly owns 4,844 shares of the company's stock, valued at $115,045. This represents a 44.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $30.34, for a total value of $567,358.00. Following the transaction, the chief financial officer now owns 219,044 shares in the company, valued at $6,645,794.96. This represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,852,086 shares of company stock worth $44,971,367 over the last 90 days. 3.25% of the stock is owned by insiders.

Clearwater Analytics Stock Up 0.5 %

Shares of NYSE CWAN opened at $31.91 on Friday. The business has a 50-day moving average of $26.99 and a two-hundred day moving average of $22.84. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 3,194.19, a price-to-earnings-growth ratio of 11.01 and a beta of 0.61. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

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.