AlphaQuest LLC Increases Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

AlphaQuest LLC boosted its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 700.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,097 shares of the company’s stock after buying an additional 13,211 shares during the period. AlphaQuest LLC’s holdings in Clearwater Analytics were worth $415,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CWAN. OFI Invest Asset Management purchased a new position in shares of Clearwater Analytics during the 4th quarter worth $88,000. Marco Investment Management LLC acquired a new stake in Clearwater Analytics during the fourth quarter worth about $208,000. Callan Family Office LLC acquired a new stake in Clearwater Analytics during the fourth quarter worth about $454,000. Raymond James Financial Inc. purchased a new position in Clearwater Analytics during the fourth quarter worth about $20,482,000. Finally, Arizona State Retirement System boosted its holdings in Clearwater Analytics by 23.8% in the 4th quarter. Arizona State Retirement System now owns 57,156 shares of the company’s stock valued at $1,573,000 after purchasing an additional 10,990 shares during the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $26.39 on Friday. The company’s 50 day moving average is $28.35 and its two-hundred day moving average is $27.69. The firm has a market cap of $6.62 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $35.71.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. On average, research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Scott Stanley Erickson sold 4,141 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.65, for a total value of $114,498.65. Following the transaction, the executive now owns 7,902 shares of the company’s stock, valued at $218,490.30. This represents a 34.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sandeep Sahai sold 218,687 shares of Clearwater Analytics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $6,575,918.09. Following the sale, the chief executive officer now directly owns 681,588 shares of the company’s stock, valued at $20,495,351.16. This trade represents a 24.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 594,510 shares of company stock worth $17,418,271. Company insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CWAN. Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. Wells Fargo & Company raised their target price on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price target for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. UBS Group upped their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada lifted their price target on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.80.

Clearwater Analytics Company 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.