Zevenbergen Capital Investments LLC Buys Shares of 612,015 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Zevenbergen Capital Investments LLC purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 612,015 shares of the company's stock, valued at approximately $16,843,000. Zevenbergen Capital Investments LLC owned 0.25% of Clearwater Analytics at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company's stock valued at $574,607,000 after acquiring an additional 2,455,844 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Clearwater Analytics by 1,600.9% during the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company's stock valued at $39,690,000 after purchasing an additional 1,357,425 shares during the period. State Street Corp raised 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 purchasing an additional 1,009,548 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in Clearwater Analytics by 189.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company's stock worth $34,926,000 after purchasing an additional 830,684 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Clearwater Analytics in the fourth quarter worth about $20,482,000. Institutional investors own 50.10% of the company's stock.

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Analyst Ratings Changes

CWAN has been the topic of a number of recent analyst reports. Morgan Stanley restated an "overweight" rating and set a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Royal Bank of Canada boosted their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Piper Sandler raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and increased their price target for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. DA Davidson raised Clearwater Analytics from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $35.00 to $32.00 in a research note on Tuesday, January 14th. Finally, Oppenheimer raised their target price on Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat, Clearwater Analytics currently has an average rating of "Moderate Buy" and a consensus price target of $33.80.

Insiders Place Their Bets

In other Clearwater Analytics news, insider Subi Sethi sold 62,482 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the sale, the insider now directly owns 144,973 shares in the company, valued at approximately $4,359,338.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the transaction, the chief executive officer now owns 615,855 shares in the company, valued at $15,944,485.95. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 644,510 shares of company stock worth $18,688,862. Corporate insiders own 4.60% of the company's stock.

Clearwater Analytics Trading Down 1.9 %

Shares of NYSE:CWAN traded down $0.52 during midday trading on Friday, reaching $26.51. The company had a trading volume of 1,370,390 shares, compared to its average volume of 2,024,213. The company has a fifty day simple moving average of $28.28 and a two-hundred day simple moving average of $27.88. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 8.23 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 debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its 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). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. Research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

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.