Polen Capital Management LLC Lowers Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Polen Capital Management LLC reduced its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 58.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,029 shares of the company’s stock after selling 198,925 shares during the period. Polen Capital Management LLC owned about 0.06% of Clearwater Analytics worth $3,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of CWAN. GAMMA Investing LLC boosted its holdings in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after purchasing an additional 468 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Clearwater Analytics during the 4th quarter valued at $57,000. R Squared Ltd purchased a new stake in Clearwater Analytics during the 4th quarter worth $80,000. Nisa Investment Advisors LLC boosted its position in Clearwater Analytics by 174.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after purchasing an additional 1,987 shares during the period. Finally, OFI Invest Asset Management acquired a new position in Clearwater Analytics in the 4th quarter worth $88,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 76,256 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the transaction, the executive now directly owns 78,363 shares in the company, valued at approximately $2,356,375.41. This represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $26.56, for a total transaction of $1,328,000.00. Following the transaction, the chief executive officer now owns 857,798 shares in the company, valued at $22,783,114.88. The trade was a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 625,810 shares of company stock worth $18,191,816 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Oppenheimer lifted their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Morgan Stanley reissued an “overweight” rating and set a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Clearwater Analytics has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $26.88 on Monday. The firm’s 50-day moving average is $28.31 and its 200-day moving average is $27.75. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. Equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share 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.