Exchange Traded Concepts LLC Makes New Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Exchange Traded Concepts LLC purchased a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the third quarter, HoldingsChannel reports. The institutional investor purchased 4,637 shares of the company’s stock, valued at approximately $117,000.

Several other hedge funds have also made changes to their positions in CWAN. Advisors Asset Management Inc. grew its holdings in Clearwater Analytics by 268.8% in the first 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 period. Benjamin F. Edwards & Company Inc. raised its stake in 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 purchasing an additional 1,549 shares during the period. Amalgamated Bank acquired a new position in shares of Clearwater Analytics in the 2nd quarter valued at $90,000. Point72 Asset Management L.P. purchased a new stake in shares of Clearwater Analytics during the 2nd quarter valued at $91,000. Finally, RiverPark Advisors LLC increased 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 worth $95,000 after buying an additional 4,202 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

Shares of CWAN opened at $26.95 on Wednesday. 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 company has a market cap of $6.62 billion, a P/E ratio of -336.88, a PEG ratio of 9.16 and a beta of 0.62. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $27.65. The stock has a fifty day moving average price of $24.93 and a 200 day moving average price of $21.02.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The firm had revenue of $106.79 million for the quarter, compared to the consensus estimate of $105.51 million. During the same period last year, the firm posted ($0.03) EPS. Clearwater Analytics’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler reissued a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Oppenheimer raised their target price on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Wells Fargo & Company upped their price objective on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup began coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company. Finally, Morgan Stanley boosted their price objective on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 14,850 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.02, for a total transaction of $326,997.00. Following the transaction, the chief financial officer now owns 232,503 shares of the company’s stock, valued at approximately $5,119,716.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO James S. Cox sold 13,700 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction of $323,868.00. Following the completion of the sale, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James S. Cox sold 14,850 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.02, for a total value of $326,997.00. Following the sale, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at approximately $5,119,716.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,879,543 shares of company stock valued at $247,145,339 in the last quarter. Corporate insiders own 2.10% 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.