Rhumbline Advisers Purchases 183,700 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Rhumbline Advisers boosted its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 8,171.7% in the 2nd quarter, Holdings Channel reports. The firm owned 185,948 shares of the company’s stock after buying an additional 183,700 shares during the quarter. Rhumbline Advisers’ holdings in Clearwater Analytics were worth $3,444,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Advisors Asset Management Inc. grew its holdings in shares of Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after purchasing an additional 1,234 shares during 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 worth $34,000 after acquiring an additional 1,549 shares in the last quarter. RiverPark Advisors LLC increased its position in shares of Clearwater Analytics by 33.1% during the second quarter. RiverPark Advisors LLC now owns 7,140 shares of the company’s stock worth $132,000 after acquiring an additional 1,774 shares during the period. Natixis Advisors LLC raised its stake in shares of Clearwater Analytics by 4.2% during the second quarter. Natixis Advisors LLC now owns 44,754 shares of the company’s stock valued at $829,000 after acquiring an additional 1,813 shares in the last quarter. Finally, MQS Management LLC boosted its holdings in shares of Clearwater Analytics by 17.4% in the first quarter. MQS Management LLC now owns 13,471 shares of the company’s stock valued at $238,000 after purchasing an additional 1,995 shares during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CWAN has been the topic of several recent research reports. Wells Fargo & Company increased their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Piper Sandler reissued a “neutral” rating and set a $23.00 price objective on shares of Clearwater Analytics in a report on Monday, September 9th. Citigroup began coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

Clearwater Analytics Stock Up 0.9 %

Clearwater Analytics stock opened at $24.73 on Wednesday. The business has a fifty day moving average price of $22.35 and a 200-day moving average price of $19.45. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $24.93. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of -306.38, 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 (NYSE:CWAN) last posted 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 firm had revenue of $106.79 million for 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%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James S. Cox sold 11,275 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $18.92, for a total value of $213,323.00. Following the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $4,398,956.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,897,118 shares of company stock valued at $247,319,596. Company insiders own 2.10% of the company’s stock.

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.