Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Stake Increased by Alliancebernstein L.P.

Alliancebernstein L.P. increased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 66.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,373,942 shares of the company’s stock after purchasing an additional 2,931,445 shares during the quarter. Alliancebernstein L.P.’s holdings in Clearwater Analytics were worth $202,931,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Clearwater Analytics by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,413 shares of the company’s stock valued at $32,709,000 after acquiring an additional 60,948 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Clearwater Analytics by 6.4% during the third quarter. The Manufacturers Life Insurance Company now owns 79,809 shares of the company’s stock worth $2,015,000 after purchasing an additional 4,821 shares during the period. FMR LLC grew its position in Clearwater Analytics by 171.4% during the third quarter. FMR LLC now owns 9,169 shares of the company’s stock valued at $232,000 after purchasing an additional 5,790 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Clearwater Analytics by 129.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 69,828 shares of the company’s stock valued at $1,763,000 after buying an additional 39,343 shares during the period. Finally, MetLife Investment Management LLC lifted its position in Clearwater Analytics by 144.1% in the 3rd quarter. MetLife Investment Management LLC now owns 86,426 shares of the company’s stock worth $2,182,000 after buying an additional 51,022 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Trading Up 1.1 %

NYSE:CWAN opened at $26.83 on Tuesday. The company’s 50 day moving average is $28.26 and its 200-day moving average is $27.97. 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 $6.74 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) 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 the consensus estimate of $120.34 million. Equities analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Buying and Selling

In other news, insider Subi Sethi sold 62,482 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 144,973 shares in the company, valued at $4,359,338.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 4,141 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the sale, the executive now owns 7,902 shares in the company, valued at approximately $218,490.30. The trade was a 34.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 644,510 shares of company stock valued at $18,688,862. Insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. UBS Group raised their price target on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Finally, Oppenheimer boosted their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.80.

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.