Zevenbergen Capital Investments LLC Purchases Shares of 612,015 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Zevenbergen Capital Investments LLC bought a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 612,015 shares of the company’s stock, valued at approximately $16,843,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC increased its position in Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after acquiring an additional 468 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Clearwater Analytics during the fourth quarter worth $57,000. R Squared Ltd acquired a new position in Clearwater Analytics in the 4th quarter worth about $80,000. Nisa Investment Advisors LLC boosted its position in Clearwater Analytics by 174.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after buying an additional 1,987 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Clearwater Analytics in the fourth quarter worth $88,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Insider Activity

In related news, CRO Scott Stanley Erickson sold 4,141 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.65, for a total value of $114,498.65. Following the transaction, the executive now owns 7,902 shares in the company, valued at $218,490.30. The trade was a 34.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total transaction of $503,778.00. Following the transaction, the chief financial officer now owns 279,857 shares of the company’s stock, valued at approximately $7,539,347.58. The trade was a 6.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 644,510 shares of company stock worth $18,688,862. Corporate insiders own 4.60% of the company’s stock.

Clearwater Analytics Trading Down 0.6 %

NYSE:CWAN opened at $26.52 on Monday. 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. The company has a market capitalization of $6.66 billion, a P/E ratio of 15.98, a PEG ratio of 8.23 and a beta of 0.69. The firm has a fifty day simple moving average of $28.26 and a 200-day simple moving average of $27.82.

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 analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. On average, equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Wells Fargo & Company increased their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. DA Davidson upgraded 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. Finally, Royal Bank of Canada lifted their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.