NBC Securities Inc. Sells 9,153 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

NBC Securities Inc. reduced its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 26.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,091 shares of the company’s stock after selling 9,153 shares during the period. NBC Securities Inc.’s holdings in Clearwater Analytics were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Creative Planning bought a new stake in shares of Clearwater Analytics during the 3rd quarter worth approximately $505,000. Exchange Traded Concepts LLC acquired a new position in Clearwater Analytics during the third quarter worth $117,000. Diversified Trust Co bought a new stake in Clearwater Analytics during the third quarter worth $517,000. Handelsbanken Fonder AB lifted its stake in Clearwater Analytics by 46.5% in the third quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company’s stock valued at $684,000 after acquiring an additional 8,600 shares during the last quarter. Finally, Cim LLC bought a new position in shares of Clearwater Analytics in the 2nd quarter valued at about $163,000. 50.10% of the stock is owned by institutional investors.

Clearwater Analytics Stock Performance

Shares of NYSE CWAN opened at $27.14 on Friday. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $27.16. 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 firm has a market cap of $6.67 billion, a price-to-earnings ratio of -339.25, a P/E/G ratio of 9.16 and a beta of 0.62. The stock’s fifty day moving average price is $24.57 and its two-hundred day moving average price is $20.72.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $106.79 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) earnings per share. On average, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current year.

Insider Activity

In related news, Director Warburg Pincus Llc sold 9,000,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total transaction of $201,690,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $24.18, for a total value of $43,144,760.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the stock in a transaction that occurred on 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. Over the last ninety days, insiders sold 10,879,543 shares of company stock worth $247,145,339. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CWAN shares. Wells Fargo & Company raised their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer raised their price objective on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Citigroup assumed coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Morgan Stanley raised their price target on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Royal Bank of Canada upped 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus target price of $25.67.

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.