HighTower Advisors LLC Has $2.69 Million Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

HighTower Advisors LLC increased its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 937.9% during the fourth quarter, HoldingsChannel reports. The fund owned 97,559 shares of the company’s stock after buying an additional 88,159 shares during the period. HighTower Advisors LLC’s holdings in Clearwater Analytics were worth $2,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CWAN. GAMMA Investing LLC increased its stake in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after buying an additional 468 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Clearwater Analytics by 3.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock valued at $469,000 after buying an additional 502 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Clearwater Analytics by 11.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock valued at $142,000 after buying an additional 521 shares during the last quarter. IHT Wealth Management LLC increased its stake in Clearwater Analytics by 5.5% in the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock valued at $288,000 after buying an additional 598 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Clearwater Analytics by 38.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock valued at $90,000 after buying an additional 995 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. UBS Group lifted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.80.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $26.52 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 15.98, 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 50-day simple moving average of $28.26 and a 200 day simple moving average of $27.77.

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). The business had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. On average, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $26.58, for a total value of $497,046.00. Following the completion of the transaction, the chief financial officer now directly owns 358,502 shares in the company, valued at approximately $9,528,983.16. The trade was a 4.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai sold 218,687 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $6,575,918.09. Following the completion of the transaction, the chief executive officer now owns 681,588 shares of the company’s stock, valued at $20,495,351.16. The trade was a 24.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock valued at $18,688,862 in the last quarter. Company insiders own 4.60% of the company’s stock.

Clearwater Analytics 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.