Ghisallo Capital Management LLC Takes $4.63 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Ghisallo Capital Management LLC acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 250,000 shares of the company’s stock, valued at approximately $4,630,000. Ghisallo Capital Management LLC owned 0.10% of Clearwater Analytics as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Blair William & Co. IL raised its holdings in Clearwater Analytics by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock worth $786,000 after purchasing an additional 680 shares during the period. Arizona State Retirement System raised its stake in shares of Clearwater Analytics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock worth $757,000 after buying an additional 828 shares during the period. Advisors Asset Management Inc. lifted its position in shares of 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 in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Clearwater Analytics by 389.2% in the 1st 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 period. Finally, RiverPark Advisors LLC increased its holdings in Clearwater Analytics by 33.1% in the 2nd quarter. RiverPark Advisors LLC now owns 7,140 shares of the company’s stock worth $132,000 after acquiring an additional 1,774 shares in the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CWAN shares. Royal Bank of Canada increased their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Piper Sandler reiterated a “neutral” rating and set a $23.00 price objective on shares of Clearwater Analytics in a research note on Monday, September 9th. Citigroup assumed coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 target price for the company. Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research note on Monday, July 8th. Finally, Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

Insider Activity

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $19.50, for a total value of $75,855.00. Following the sale, the executive now owns 4,844 shares of the company’s stock, valued at $94,458. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $19.50, for a total transaction of $75,855.00. Following the sale, the executive now owns 4,844 shares of the company’s stock, valued at approximately $94,458. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the stock in a transaction on Thursday, August 8th. The shares were 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. Over the last ninety days, insiders sold 10,897,118 shares of company stock valued at $247,319,596. 2.10% of the stock is currently owned by corporate insiders.

Clearwater Analytics Stock Down 1.0 %

Shares of NYSE CWAN opened at $24.99 on Wednesday. The company has a market capitalization of $6.14 billion, a P/E ratio of -312.38, a P/E/G ratio of 9.30 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. The company has a 50 day simple moving average of $23.58 and a 200-day simple moving average of $20.05. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $26.02.

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

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.