Shannon River Fund Management LLC Has $51.27 Million Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Shannon River Fund Management LLC trimmed its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 23.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,862,813 shares of the company’s stock after selling 585,966 shares during the quarter. Clearwater Analytics accounts for approximately 7.6% of Shannon River Fund Management LLC’s investment portfolio, making the stock its 5th biggest holding. Shannon River Fund Management LLC’s holdings in Clearwater Analytics were worth $51,265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CWAN. Vanguard Group Inc. grew its position in shares of Clearwater Analytics by 13.3% in the fourth 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 in the last quarter. Alliancebernstein L.P. boosted its stake in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock worth $202,931,000 after purchasing an additional 2,931,445 shares during the period. Wellington Management Group LLP grew its holdings in Clearwater Analytics by 98.2% during the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after buying an additional 2,950,555 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Clearwater Analytics by 52.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after buying an additional 1,585,869 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Clearwater Analytics by 9.0% in the fourth quarter. Invesco Ltd. now owns 4,253,863 shares of the company’s stock worth $117,066,000 after buying an additional 352,201 shares in the last quarter. Institutional investors own 50.10% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $27.63, for a total transaction of $1,381,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares of the company’s stock, valued at approximately $17,016,073.65. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $26.58, for a total value of $497,046.00. Following the completion of the sale, the chief financial officer now directly owns 358,502 shares in the company, valued at $9,528,983.16. The trade was a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 594,510 shares of company stock worth $17,394,362 in the last ninety days. 4.60% of the stock is owned by insiders.

Clearwater Analytics Trading Up 0.3 %

CWAN stock opened at $23.13 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $35.71. The company’s 50 day moving average price is $27.14 and its two-hundred day moving average price is $27.83. The company has a market capitalization of $5.81 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly 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 analysts’ expectations of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. As a group, analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CWAN shares. Wells Fargo & Company upped their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. Royal Bank of Canada raised their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Morgan Stanley reissued an “overweight” rating and set a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.80.

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.