Harvest Fund Management Co. Ltd Makes New Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Harvest Fund Management Co. Ltd acquired a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,213 shares of the company’s stock, valued at approximately $116,000.

Several other large investors have also recently bought and sold shares of the company. Wasatch Advisors LP lifted its holdings in Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after buying an additional 559,564 shares in the last quarter. State Street Corp lifted its holdings in Clearwater Analytics by 38.7% during the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after buying an additional 1,009,548 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Clearwater Analytics by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock worth $88,710,000 after buying an additional 187,881 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Clearwater Analytics by 11.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock worth $83,186,000 after buying an additional 327,880 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Clearwater Analytics by 10.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,003,930 shares of the company’s stock worth $75,849,000 after buying an additional 281,958 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Insiders Place Their Bets

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 76,256 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the completion of the transaction, the executive now owns 78,363 shares in the company, valued at approximately $2,356,375.41. This represents a 49.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $26.58, for a total transaction of $497,046.00. Following the transaction, the chief financial officer now owns 358,502 shares of the company’s stock, valued at approximately $9,528,983.16. This represents a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 644,510 shares of company stock worth $18,688,862. Corporate insiders own 4.60% of the company’s stock.

Clearwater Analytics Price Performance

CWAN opened at $26.52 on Friday. 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 company has a fifty day simple moving average of $28.26 and a 200 day simple moving average of $27.80. The stock has a market cap of $6.66 billion, a P/E ratio of 15.98, a P/E/G ratio of 8.23 and a beta of 0.69.

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). The firm had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. On average, research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

CWAN has been the topic of a number of analyst reports. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their price target for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Royal Bank of Canada increased their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. UBS Group increased their price target on Clearwater Analytics from $36.00 to $38.00 and gave the company 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. Finally, Oppenheimer increased their price target on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One investment 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.80.

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.