Pier Capital LLC Purchases Shares of 128,570 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Pier Capital LLC acquired a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 128,570 shares of the company’s stock, valued at approximately $3,538,000. Pier Capital LLC owned about 0.05% of Clearwater Analytics at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CWAN. Vanguard Group Inc. raised its position in Clearwater Analytics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after purchasing an additional 2,455,844 shares during the last quarter. Wasatch Advisors LP increased its stake 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 period. State Street Corp raised its holdings in shares of Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after acquiring an additional 1,009,548 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 acquiring an additional 187,881 shares during the period. Finally, Loomis Sayles & Co. L P boosted its holdings 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 valued at $83,186,000 after acquiring an additional 327,880 shares in the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clearwater Analytics

In related news, insider Subi Sethi sold 62,482 shares of Clearwater Analytics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the sale, the insider now directly owns 144,973 shares in the company, valued at approximately $4,359,338.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 218,687 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $6,575,918.09. Following the completion of the transaction, the chief executive officer now directly owns 681,588 shares of the company’s stock, valued at approximately $20,495,351.16. This trade represents a 24.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 644,510 shares of company stock worth $18,688,862. 4.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on CWAN. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Oppenheimer raised their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upped their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $28.00 to $36.00 in a research report on Thursday, February 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.80.

Clearwater Analytics Stock Performance

Clearwater Analytics stock opened at $27.11 on Tuesday. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.62 and a twelve month high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $6.80 billion, a P/E ratio of 16.33, a PEG ratio of 8.23 and a beta of 0.69. The stock’s 50 day moving average is $28.28 and its 200 day moving average is $27.85.

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

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.