Artisan Partners Limited Partnership Sells 849,009 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Artisan Partners Limited Partnership lessened its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 18.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,669,967 shares of the company’s stock after selling 849,009 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Clearwater Analytics were worth $100,997,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Clearwater Analytics by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after acquiring an additional 2,455,844 shares in the last quarter. Wasatch Advisors LP grew its position in Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after purchasing an additional 559,564 shares during the last quarter. State Street Corp increased its stake in Clearwater Analytics by 38.7% during the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after purchasing an additional 1,009,548 shares in the last quarter. Geode Capital Management LLC raised its holdings in Clearwater Analytics by 5.7% in the third 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 during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Clearwater Analytics by 10.4% in the third 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 own 50.10% of the company’s stock.

Clearwater Analytics Trading Down 0.9 %

Shares of NYSE:CWAN opened at $27.05 on Friday. The stock’s 50-day simple moving average is $28.31 and its two-hundred day simple moving average is $27.86. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data 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). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The business had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. Analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Activity

In related news, CRO Scott Stanley Erickson sold 4,141 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the transaction, the executive now directly owns 7,902 shares in the company, valued at approximately $218,490.30. The trade was a 34.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Subi Sethi sold 62,482 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the sale, the insider now owns 144,973 shares in the company, valued at approximately $4,359,338.11. The trade was a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 644,510 shares of company stock valued at $18,688,862 in the last 90 days. Company insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CWAN. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. UBS Group lifted their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Oppenheimer upped their price target on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their target price for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics currently has an average rating of “Moderate Buy” and an average price target of $33.80.

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.