Sheets Smith Investment Management Takes Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Sheets Smith Investment Management bought a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 4th quarter, HoldingsChannel.com reports. The firm bought 49,368 shares of the company’s stock, valued at approximately $1,359,000.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after acquiring an additional 468 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Clearwater Analytics in the 4th quarter valued at about $57,000. R Squared Ltd bought a new position in Clearwater Analytics in the 4th quarter valued at about $80,000. Nisa Investment Advisors LLC lifted 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 acquiring an additional 1,987 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in Clearwater Analytics in the 4th quarter valued at about $88,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CWAN shares. Wells Fargo & Company raised their price target on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Oppenheimer raised their price target 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. UBS Group lifted their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada lifted their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Trading Down 0.6 %

Shares of CWAN stock opened at $26.52 on Monday. The company has a 50 day moving average of $28.26 and a 200-day moving average of $27.82. 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 12-month low of $15.62 and a 12-month high of $35.71. The firm has a market cap of $6.66 billion, a P/E ratio of 15.98, a PEG ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (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 company had revenue of $126.47 million for the quarter, compared to analysts’ expectations of $120.34 million. Sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Activity at Clearwater Analytics

In related news, insider Subi Sethi sold 62,482 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the transaction, the insider now directly owns 144,973 shares in the company, valued at approximately $4,359,338.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Souvik Das sold 76,844 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,310,699.08. Following the completion of the transaction, the chief technology officer now owns 68,902 shares of the company’s stock, valued at $2,071,883.14. This represents a 52.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 644,510 shares of company stock worth $18,688,862. Corporate insiders own 4.60% of the company’s stock.

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.