State Street Corp Buys 1,009,548 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

State Street Corp lifted its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 38.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,617,462 shares of the company's stock after purchasing an additional 1,009,548 shares during the period. State Street Corp owned 1.47% of Clearwater Analytics worth $91,341,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Clearwater Analytics in the second quarter worth $355,000. Raymond James & Associates grew its position in shares of Clearwater Analytics by 0.7% during the second quarter. Raymond James & Associates now owns 648,603 shares of the company's stock worth $12,012,000 after purchasing an additional 4,602 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Clearwater Analytics by 66.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 956,527 shares of the company's stock valued at $17,715,000 after purchasing an additional 380,154 shares during the period. RiverPark Advisors LLC boosted its stake in Clearwater Analytics by 33.1% in the 2nd quarter. RiverPark Advisors LLC now owns 7,140 shares of the company's stock worth $132,000 after purchasing an additional 1,774 shares during the period. Finally, Conestoga Capital Advisors LLC increased its holdings in shares of Clearwater Analytics by 2.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company's stock worth $123,551,000 after buying an additional 165,000 shares during the last quarter. Institutional investors own 50.10% of the company's stock.

Wall Street Analysts Forecast Growth

CWAN has been the subject of several analyst reports. Citigroup initiated coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They issued a "buy" rating and a $28.00 target price for the company. Wells Fargo & Company boosted their target price on Clearwater Analytics from $33.00 to $35.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Oppenheimer increased their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Morgan Stanley increased their target price 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. Finally, The Goldman Sachs Group raised their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a "sell" rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Clearwater Analytics has a consensus rating of "Hold" and an average target price of $31.89.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.65, for a total value of $554,455.00. Following the sale, the chief financial officer now directly owns 214,044 shares in the company, valued at $6,346,404.60. This trade represents a 8.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction 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 sale, the executive now directly owns 6,373 shares of the company's stock, valued at $161,746.74. This trade represents a 37.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,942 shares of company stock valued at $5,972,366. Company insiders own 4.60% of the company's stock.

Clearwater Analytics Trading Down 0.3 %

Clearwater Analytics stock traded down $0.08 during midday trading on Tuesday, reaching $29.55. The stock had a trading volume of 4,734,147 shares, compared to its average volume of 1,695,673. 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 twelve month low of $15.62 and a twelve month high of $35.71. The stock's 50-day simple moving average is $28.78 and its 200 day simple moving average is $24.30. The stock has a market capitalization of $7.30 billion, a PE ratio of 2,955.00, a price-to-earnings-growth ratio of 10.57 and a beta of 0.69.

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.