Magnetar Financial LLC Invests $626,000 in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Magnetar Financial LLC acquired a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,737 shares of the company’s stock, valued at approximately $626,000.

Several other institutional investors also recently modified their holdings of the business. Wasatch Advisors LP boosted its position in shares of Clearwater Analytics by 3.2% during the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after buying an additional 559,564 shares during the last quarter. State Street Corp boosted its position in Clearwater Analytics by 38.7% in the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after purchasing an additional 1,009,548 shares during the last quarter. Geode Capital Management LLC boosted its position in Clearwater Analytics by 5.7% in the third quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock worth $88,710,000 after purchasing an additional 187,881 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in Clearwater Analytics by 11.1% in the third quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock worth $83,186,000 after purchasing an additional 327,880 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Clearwater Analytics by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,003,930 shares of the company’s stock worth $75,849,000 after purchasing an additional 281,958 shares during the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Down 0.6 %

Shares of CWAN opened at $26.52 on Friday. The business’s 50 day moving average is $28.26 and its 200 day moving average is $27.77. The company has a market capitalization of $6.66 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results 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). The business had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. Research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total value of $503,778.00. Following the sale, the chief financial officer now owns 279,857 shares of the company’s stock, valued at $7,539,347.58. The trade was a 6.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the sale, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $15,944,485.95. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 644,510 shares of company stock valued at $18,688,862. 4.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on CWAN shares. UBS Group raised their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Wells Fargo & Company raised their target price on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. One 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.80.

Clearwater Analytics Company 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.