Wasatch Advisors LP Grows Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Wasatch Advisors LP grew its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,135,026 shares of the company’s stock after buying an additional 559,564 shares during the period. Clearwater Analytics accounts for about 2.2% of Wasatch Advisors LP’s portfolio, making the stock its 5th largest position. Wasatch Advisors LP owned approximately 0.07% of Clearwater Analytics worth $457,909,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of Clearwater Analytics by 268.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after buying an additional 1,234 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Clearwater Analytics in the 3rd quarter worth approximately $45,000. Financial Management Professionals Inc. acquired a new stake in Clearwater Analytics in the 3rd quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. boosted its stake in Clearwater Analytics by 124.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after purchasing an additional 2,425 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Clearwater Analytics in the 3rd quarter worth approximately $117,000. 50.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer lifted their target price on shares of Clearwater Analytics from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their price objective 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. Finally, Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.11.

Clearwater Analytics Price Performance

NYSE:CWAN opened at $31.04 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 3,107.11, a price-to-earnings-growth ratio of 11.13 and a beta of 0.61. The company has a 50 day moving average price of $27.80 and a 200-day moving average price of $23.41. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the sale, the chief financial officer now owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. The trade was a 7.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $31.34, for a total transaction of $121,912.60. Following the completion of the sale, the executive now directly owns 6,373 shares of the company’s stock, valued at approximately $199,729.82. The trade was a 37.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,770 shares of company stock valued at $1,826,606 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

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.