Redwood Investments LLC Increases Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Redwood Investments LLC grew its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 86.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,043 shares of the company’s stock after purchasing an additional 34,234 shares during the period. Redwood Investments LLC’s holdings in Clearwater Analytics were worth $2,038,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CWAN. Barclays PLC raised its stake in shares of Clearwater Analytics by 105.6% in the third quarter. Barclays PLC now owns 571,860 shares of the company’s stock valued at $14,439,000 after acquiring an additional 293,719 shares in the last quarter. GAMMA Investing LLC grew its stake in Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after purchasing an additional 468 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in Clearwater Analytics during the 4th quarter worth about $345,000. Jackson Square Capital LLC acquired a new stake in Clearwater Analytics in the 4th quarter valued at about $558,000. Finally, Nisa Investment Advisors LLC raised its position in 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. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Stock Down 0.5%

Shares of NYSE:CWAN opened at $24.19 on Thursday. The firm has a 50 day simple moving average of $24.45 and a 200-day simple moving average of $27.36. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.63 and a twelve month high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $6.85 billion, a PE ratio of 14.57, a P/E/G ratio of 8.23 and a beta of 0.79.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The firm had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. During the same period last year, the business earned $0.10 EPS. Clearwater Analytics’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. JPMorgan Chase & Co. began coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They issued an “overweight” rating and a $28.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, UBS Group increased their target price on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.00.

Insider Transactions at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the transaction, the chief executive officer now directly owns 876,754 shares in the company, valued at approximately $21,296,354.66. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $23.17, for a total transaction of $433,279.00. Following the completion of the sale, the chief financial officer now owns 358,885 shares of the company’s stock, valued at approximately $8,315,365.45. This trade represents a 4.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 644,510 shares of company stock worth $18,311,363. Corporate insiders own 4.60% of the company’s stock.

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.