Granite Investment Partners LLC Decreases Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Granite Investment Partners LLC cut its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,088 shares of the company’s stock after selling 5,967 shares during the period. Granite Investment Partners LLC’s holdings in Clearwater Analytics were worth $6,280,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. grew 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 valued at $30,000 after buying an additional 1,234 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock valued at $34,000 after acquiring an additional 1,549 shares during the last quarter. Amalgamated Bank purchased a new stake in Clearwater Analytics during the 2nd quarter worth about $90,000. RiverPark Advisors LLC raised its stake in Clearwater Analytics by 361.0% in the 1st quarter. RiverPark Advisors LLC now owns 5,366 shares of the company’s stock valued at $95,000 after purchasing an additional 4,202 shares during the last quarter. Finally, Wellington Shields & Co. LLC purchased a new position in Clearwater Analytics in the 1st quarter valued at about $177,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

CWAN has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler reiterated a “neutral” rating and issued a $23.00 price target on shares of Clearwater Analytics in a report on Monday, September 9th. Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a report on Monday, July 8th. Wells Fargo & Company upped their target price on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup assumed coverage on Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, Director Warburg Pincus Llc sold 9,000,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $22.41, for a total value of $201,690,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Clearwater Analytics news, insider Subi Sethi sold 21,497 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total transaction of $522,377.10. Following the completion of the sale, the insider now owns 81,812 shares in the company, valued at $1,988,031.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $22.41, for a total transaction of $201,690,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 10,897,118 shares of company stock valued at $247,319,596. Corporate insiders own 2.10% of the company’s stock.

Clearwater Analytics Price Performance

Shares of NYSE CWAN opened at $25.29 on Friday. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of -316.13, a PEG ratio of 8.54 and a beta of 0.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $25.81. The business has a 50-day moving average of $22.88 and a 200-day moving average of $19.64.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $106.79 million during the quarter, compared to the consensus estimate of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. Clearwater Analytics’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. On average, equities analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current fiscal 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.