RiverPark Advisors LLC Reduces Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

RiverPark Advisors LLC decreased its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 17.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,898 shares of the company’s stock after selling 1,242 shares during the period. RiverPark Advisors LLC’s holdings in Clearwater Analytics were worth $149,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CWAN. Advisors Asset Management Inc. lifted its holdings in Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after purchasing an additional 1,234 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Clearwater Analytics during the 3rd quarter worth about $45,000. Financial Management Professionals Inc. purchased a new stake in Clearwater Analytics during the 3rd quarter worth about $58,000. Benjamin F. Edwards & Company Inc. lifted its holdings 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 worth $81,000 after purchasing an additional 2,425 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in Clearwater Analytics during the 2nd quarter worth about $90,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $24.44, for a total transaction of $457,028.00. Following the completion of the sale, the chief financial officer now directly owns 227,503 shares in the company, valued at $5,560,173.32. This represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Subi Sethi sold 21,497 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total value of $522,377.10. Following the sale, the insider now owns 81,812 shares of the company’s stock, valued at $1,988,031.60. This represents a 20.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,854,883 shares of company stock worth $44,926,386. 3.25% of the stock is currently owned by insiders.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock opened at $30.49 on Friday. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $7.53 billion, a PE ratio of 3,052.05, a price-to-earnings-growth ratio of 10.89 and a beta of 0.61. The business’s 50-day moving average price is $26.42 and its 200-day moving average price is $22.49. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $35.71.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CWAN shares. Oppenheimer upped their target price on Clearwater Analytics from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. DA Davidson lowered Clearwater Analytics from a “buy” rating to a “neutral” rating and upped their target price for the stock from $31.00 to $35.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Finally, Royal Bank of Canada upped their target price on Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.67.

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.