11,961 Shares in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Bought by MIG Capital LLC

MIG Capital LLC acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,961 shares of the company’s stock, valued at approximately $329,000.

A number of other institutional investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in shares of Clearwater Analytics by 6.3% in the 4th quarter. Russell Investments Group Ltd. now owns 159,844 shares of the company’s stock worth $4,399,000 after buying an additional 9,525 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Clearwater Analytics by 15.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 427,274 shares of the company’s stock worth $11,759,000 after acquiring an additional 55,762 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Clearwater Analytics in the fourth quarter valued at about $792,000. Resona Asset Management Co. Ltd. bought a new position in shares of Clearwater Analytics during the 4th quarter valued at approximately $991,000. Finally, Pamalican Asset Management Ltd purchased a new stake in shares of Clearwater Analytics during the 4th quarter worth approximately $8,256,000. Institutional investors own 50.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CWAN shares. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $36.00 in a report on Thursday, February 20th. DA Davidson raised 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. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Royal Bank of Canada lifted their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company upped their price target 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 analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Price Performance

CWAN stock opened at $23.45 on Friday. The firm has a 50 day moving average of $28.01 and a 200-day moving average of $27.97. The firm has a market capitalization of $5.89 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76. 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 announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The firm had revenue of $126.47 million during 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%. As a group, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction on Monday, January 13th. The shares were sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the completion of the sale, the chief executive officer now directly owns 615,855 shares of the company’s stock, valued at approximately $15,944,485.95. The trade was a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 76,256 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $2,293,017.92. Following the sale, the executive now owns 78,363 shares in the company, valued at $2,356,375.41. The trade was a 49.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 644,510 shares of company stock worth $18,688,862 over the last ninety days. 4.60% of the stock is owned by corporate insiders.

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.