Millennium Management LLC Has $21.05 Million Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Millennium Management LLC lowered its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 69.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,136,608 shares of the company’s stock after selling 2,620,351 shares during the period. Millennium Management LLC owned about 0.46% of Clearwater Analytics worth $21,050,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in Clearwater Analytics by 268.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after purchasing an additional 1,234 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after buying an additional 1,549 shares in the last quarter. Amalgamated Bank bought a new position in shares of Clearwater Analytics in the 2nd quarter valued at $90,000. RiverPark Advisors LLC boosted its holdings in shares of Clearwater Analytics by 361.0% during the 1st quarter. RiverPark Advisors LLC now owns 5,366 shares of the company’s stock valued at $95,000 after acquiring an additional 4,202 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Clearwater Analytics during the 2nd quarter worth $157,000. 50.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CWAN shares. Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research report on Monday, July 8th. 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 report on Thursday, August 1st. Piper Sandler reissued a “neutral” rating and set a $23.00 target price on shares of Clearwater Analytics in a report on Monday, September 9th. Royal Bank of Canada raised their price target on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Finally, Citigroup initiated 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 on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.78.

Insider Buying and Selling at Clearwater Analytics

In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $24.44, for a total transaction of $457,028.00. Following the completion of the sale, the chief financial officer now owns 227,503 shares of the company’s stock, valued at approximately $5,560,173.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,897,118 shares of company stock worth $247,319,596. 2.10% of the stock is owned by corporate insiders.

Clearwater Analytics Trading Up 1.4 %

CWAN opened at $25.38 on Friday. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.62 and a twelve month high of $26.02. The company has a fifty day moving average of $23.96 and a 200-day moving average of $20.23. The stock has a market cap of $6.24 billion, a PE ratio of -317.25, a price-to-earnings-growth ratio of 9.30 and a beta of 0.62. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. On average, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current year.

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.