Oppenheimer Asset Management Inc. Lowers Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Oppenheimer Asset Management Inc. reduced its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 25.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,543 shares of the company’s stock after selling 43,455 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.05% of Clearwater Analytics worth $3,538,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC grew its holdings in shares of Clearwater Analytics by 47.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 20,970 shares of the company’s stock valued at $577,000 after purchasing an additional 6,710 shares in the last quarter. Amalgamated Bank boosted its position in Clearwater Analytics by 25.9% in the 4th quarter. Amalgamated Bank now owns 6,098 shares of the company’s stock valued at $168,000 after buying an additional 1,254 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Clearwater Analytics by 46.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,040,188 shares of the company’s stock worth $28,626,000 after acquiring an additional 328,542 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Clearwater Analytics during the fourth quarter worth $450,000. Finally, Olympiad Research LP purchased a new stake in shares of Clearwater Analytics during the fourth quarter worth $409,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 139,172 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.94, for a total value of $4,027,637.68. Following the completion of the sale, the chief executive officer now directly owns 441,724 shares of the company’s stock, valued at approximately $12,783,492.56. This represents a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Subi Sethi sold 62,482 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the transaction, the insider now owns 144,973 shares in the company, valued at approximately $4,359,338.11. This trade represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 733,431 shares of company stock valued at $21,444,493 in the last three months. 4.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on CWAN. Oppenheimer boosted their target price on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $28.00 to $36.00 in a report on Thursday, February 20th. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Finally, UBS Group increased their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Clearwater Analytics currently has an average rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Trading Up 4.4 %

Shares of Clearwater Analytics stock opened at $31.13 on Friday. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $28.20 and a 200-day simple moving average of $27.39. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 8.23 and a beta of 0.72. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. On average, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal 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.