Allspring Global Investments Holdings LLC Has $80.34 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Allspring Global Investments Holdings LLC reduced its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,338,151 shares of the company’s stock after selling 21,697 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.77% of Clearwater Analytics worth $80,343,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Advisors Asset Management Inc. grew its position in Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after buying an additional 1,234 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position 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 buying an additional 1,549 shares in the last quarter. Eagle Bay Advisors LLC grew its position in Clearwater Analytics by 213.3% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock worth $36,000 after buying an additional 1,207 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Clearwater Analytics by 33.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock worth $49,000 after buying an additional 616 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in Clearwater Analytics during the fourth quarter worth about $90,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Scott Stanley Erickson sold 118,204 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $20.10, for a total value of $2,375,900.40. Following the completion of the transaction, the insider now directly owns 3,315 shares of the company’s stock, valued at approximately $66,631.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO James S. Cox sold 6,275 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.10, for a total value of $126,127.50. Following the completion of the sale, the chief financial officer now directly owns 235,962 shares in the company, valued at approximately $4,742,836.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Stanley Erickson sold 118,204 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $20.10, for a total transaction of $2,375,900.40. Following the completion of the sale, the insider now owns 3,315 shares of the company’s stock, valued at $66,631.50. The disclosure for this sale can be found here. Insiders sold 16,264,691 shares of company stock valued at $345,095,448 in the last quarter. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CWAN shares. Wells Fargo & Company raised their price target on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Piper Sandler raised their price target on shares of Clearwater Analytics from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley restated an “equal weight” rating and set a $19.00 price target on shares of Clearwater Analytics in a research note on Thursday, May 2nd. Finally, Oppenheimer upgraded shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.45.

Clearwater Analytics Trading Up 0.1 %

CWAN stock traded up $0.03 during trading on Tuesday, hitting $24.29. The company had a trading volume of 22,277 shares, compared to its average volume of 1,510,821. The firm has a 50-day moving average price of $20.72 and a 200-day moving average price of $18.97. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $24.88. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of -303.13, a PEG ratio of 9.19 and a beta of 0.57.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.61%. The firm had revenue of $106.79 million during the quarter, compared to analyst estimates of $105.51 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, analysts predict that Clearwater Analytics Holdings, Inc. will post 0.13 earnings per share for the current year.

About Clearwater Analytics

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.