Corebridge Financial Inc. Acquires 7,770 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Corebridge Financial Inc. grew its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,908 shares of the company’s stock after buying an additional 7,770 shares during the quarter. Corebridge Financial Inc.’s holdings in Clearwater Analytics were worth $2,447,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CWAN. GAMMA Investing LLC lifted its stake in Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after purchasing an additional 468 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $57,000. R Squared Ltd bought a new position in shares of Clearwater Analytics during the 4th quarter worth approximately $80,000. Nisa Investment Advisors LLC boosted its stake in Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock valued at $86,000 after buying an additional 1,987 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in Clearwater Analytics in the fourth quarter valued at $88,000. 50.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $26.58, for a total transaction of $497,046.00. Following the sale, the chief financial officer now owns 358,502 shares of the company’s stock, valued at $9,528,983.16. This trade represents a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $27.63, for a total value of $1,381,500.00. Following the completion of the transaction, the chief executive officer now owns 615,855 shares of the company’s stock, valued at $17,016,073.65. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 644,510 shares of company stock worth $18,688,862. Company insiders own 4.60% of the company’s stock.

Clearwater Analytics Trading Down 2.3 %

Shares of NYSE CWAN opened at $26.18 on Wednesday. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The firm has a market capitalization of $6.57 billion, a P/E ratio of 15.77, a P/E/G ratio of 8.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company’s 50 day simple moving average is $28.21 and its 200 day simple moving average is $27.98.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. On average, analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CWAN shares. Royal Bank of Canada boosted their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. UBS Group raised their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wells Fargo & Company boosted their target price on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Oppenheimer lifted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.80.

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.