Clearwater Analytics Holdings, Inc. $CWAN Shares Purchased by Driehaus Capital Management LLC

by · The Cerbat Gem

Driehaus Capital Management LLC raised its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN – Free Report) by 23.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,742,511 shares of the company’s stock after purchasing an additional 528,059 shares during the period. Driehaus Capital Management LLC owned 0.97% of Clearwater Analytics worth $73,499,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mariner LLC acquired a new position in Clearwater Analytics during the fourth quarter worth about $239,000. Dimensional Fund Advisors LP lifted its stake in Clearwater Analytics by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 108,235 shares of the company’s stock worth $2,979,000 after purchasing an additional 3,300 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Clearwater Analytics by 299.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,830 shares of the company’s stock worth $271,000 after purchasing an additional 7,369 shares during the last quarter. Stifel Financial Corp grew its position in shares of Clearwater Analytics by 1.6% in the fourth quarter. Stifel Financial Corp now owns 189,116 shares of the company’s stock valued at $5,204,000 after purchasing an additional 2,889 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Clearwater Analytics by 18.7% during the fourth quarter. Hsbc Holdings PLC now owns 21,493 shares of the company’s stock worth $590,000 after buying an additional 3,382 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the stock an “overweight” rating in a research note on Tuesday, June 24th. Oppenheimer decreased their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, June 11th. DA Davidson cut their price target on shares of Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Finally, The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Clearwater Analytics presently has an average rating of “Buy” and an average price target of $32.67.

View Our Latest Report on CWAN

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total transaction of $420,750.00. Following the completion of the transaction, the chief financial officer directly owned 348,964 shares of the company’s stock, valued at $7,851,690. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Souvik Das sold 10,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the chief technology officer directly owned 132,549 shares in the company, valued at $2,650,980. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 266,748 shares of company stock worth $5,755,414. 3.31% of the stock is currently owned by insiders.

Clearwater Analytics Price Performance

CWAN stock opened at $20.53 on Friday. The business’s fifty day moving average price is $20.99 and its 200 day moving average price is $23.59. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.98 and a 12-month high of $35.71. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $6.00 billion, a PE ratio of 12.91, a P/E/G ratio of 4.76 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN – Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s revenue was up 70.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

About Clearwater Analytics

(Free Report)

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.

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