Connor Clark & Lunn Investment Management Ltd. Sells 220,361 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 59.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,233 shares of the company’s stock after selling 220,361 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Clearwater Analytics were worth $3,793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of Clearwater Analytics by 22.3% during the first quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after buying an additional 23,971 shares during the period. Jane Street Group LLC boosted its position in Clearwater Analytics by 234.2% during the 1st quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after acquiring an additional 186,273 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Clearwater Analytics during the 2nd quarter worth approximately $1,797,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $3,677,000. Finally, Aigen Investment Management LP bought a new stake in shares of Clearwater Analytics in the third quarter worth $523,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $24.44, for a total transaction of $457,028.00. Following the transaction, the chief financial officer now owns 227,503 shares in the company, valued at approximately $5,560,173.32. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the sale, the executive now directly owns 4,844 shares of the company’s stock, valued at $115,045. This represents a 44.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,852,086 shares of company stock valued at $44,971,367 over the last ninety days. 3.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their target price on Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. DA Davidson cut Clearwater Analytics from a “buy” rating to a “neutral” rating and increased their price target for the company from $31.00 to $35.00 in a research report on Friday, November 8th. Citigroup began coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target on the stock. Finally, The Goldman Sachs Group increased their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Hold” and an average price target of $31.11.

Clearwater Analytics Stock Up 0.6 %

CWAN opened at $31.94 on Friday. The stock’s fifty day simple moving average is $27.15 and its 200 day simple moving average is $22.94. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71. The stock has a market cap of $7.89 billion, a PE ratio of 3,194.00, a price-to-earnings-growth ratio of 11.34 and a beta of 0.61. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

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.