Geode Capital Management LLC Increases Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Geode Capital Management LLC raised its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 5.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,512,511 shares of the company’s stock after acquiring an additional 187,881 shares during the quarter. Geode Capital Management LLC’s holdings in Clearwater Analytics were worth $88,710,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Clearwater Analytics during the third quarter valued at $45,000. Financial Management Professionals Inc. acquired a new stake in Clearwater Analytics during the 3rd quarter worth about $58,000. Benjamin F. Edwards & Company Inc. grew its stake in Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after purchasing an additional 2,425 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Clearwater Analytics in the second quarter valued at about $90,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Clearwater Analytics by 38.6% in the third quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock worth $90,000 after purchasing an additional 995 shares during the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CWAN. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Oppenheimer upped their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Piper Sandler lifted their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada upped their target price on Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.89.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock opened at $27.92 on Friday. The firm has a market cap of $6.90 billion, a PE ratio of 2,794.79, a P/E/G ratio of 10.57 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.62 and a twelve month high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $28.92 and a 200 day moving average price of $24.40.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the sale, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at $5,860,991.04. The trade was a 7.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $25.38, for a total transaction of $98,728.20. Following the sale, the executive now directly owns 6,373 shares of the company’s stock, valued at $161,746.74. The trade was a 37.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,942 shares of company stock valued at $5,972,366. Company 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.