Magnetar Financial LLC Purchases Shares of 22,737 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Magnetar Financial LLC acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,737 shares of the company’s stock, valued at approximately $626,000.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after buying an additional 468 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Clearwater Analytics by 3.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock worth $469,000 after buying an additional 502 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Clearwater Analytics by 11.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock worth $142,000 after buying an additional 521 shares in the last quarter. IHT Wealth Management LLC boosted its stake in Clearwater Analytics by 5.5% in the third quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock worth $288,000 after buying an additional 598 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in 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 buying an additional 995 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $26.58, for a total value of $497,046.00. Following the sale, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Subi Sethi sold 62,482 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the sale, the insider now directly owns 144,973 shares in the company, valued at approximately $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 644,510 shares of company stock worth $18,688,862. 4.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CWAN. Wells Fargo & Company upped their target price on 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 boosted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Oppenheimer boosted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock 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. The company has a market cap of $6.66 billion, a PE ratio of 15.98, a P/E/G ratio of 8.23 and a beta of 0.69. The business has a 50 day moving average of $28.26 and a 200 day moving average of $27.77. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. As a group, equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

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.