Essex Investment Management Co. LLC Sells 1,643 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Essex Investment Management Co. LLC lessened its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 58.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,166 shares of the company’s stock after selling 1,643 shares during the period. Essex Investment Management Co. LLC’s holdings in Clearwater Analytics were worth $32,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Chartwell Investment Partners LLC raised its position in shares of Clearwater Analytics by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock valued at $1,233,000 after acquiring an additional 395 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after acquiring an additional 468 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Clearwater Analytics by 3.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock valued at $469,000 after acquiring an additional 502 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Clearwater Analytics by 11.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock valued at $142,000 after acquiring an additional 521 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of Clearwater Analytics by 5.5% during the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock valued at $288,000 after acquiring an additional 598 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares of the company’s stock, valued at approximately $15,944,485.95. This represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Subi Sethi sold 62,482 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the transaction, the insider now owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 590,369 shares of company stock valued at $17,303,773. Company insiders own 4.60% of the company’s stock.

Clearwater Analytics Price Performance

Shares of NYSE CWAN opened at $27.56 on Tuesday. The firm has a market cap of $6.92 billion, a PE ratio of 16.60, a PEG ratio of 8.23 and a beta of 0.69. 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 Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71. The company has a fifty day moving average price of $28.35 and a 200 day moving average price of $27.65.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share 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 analyst estimates of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. Research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CWAN has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their target price for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Royal Bank of Canada upped their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $28.00 to $36.00 in a report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their price target on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.80.

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.