48,500 Shares in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Bought by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC acquired a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 48,500 shares of the company’s stock, valued at approximately $858,000. Clearwater Analytics comprises 2.3% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Eagle Bay Advisors LLC increased its position in Clearwater Analytics by 213.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock worth $36,000 after buying an additional 1,207 shares during the period. Tower Research Capital LLC TRC lifted its position in Clearwater Analytics by 33.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock valued at $49,000 after purchasing an additional 616 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in Clearwater Analytics in the 4th quarter valued at about $90,000. Asset Management One Co. Ltd. bought a new stake in Clearwater Analytics in the 4th quarter valued at about $134,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Clearwater Analytics during the fourth quarter worth approximately $211,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Subi Sethi sold 18,599 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the transaction, the insider now directly owns 77,519 shares in the company, valued at approximately $1,508,519.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Warburg Pincus Llc sold 7,000,000 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total transaction of $137,970,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Subi Sethi sold 18,599 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the completion of the transaction, the insider now owns 77,519 shares of the company’s stock, valued at $1,508,519.74. The disclosure for this sale can be found here. Insiders sold 7,193,079 shares of company stock valued at $141,831,984 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CWAN has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $19.00 price objective on shares of Clearwater Analytics in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.70.

Clearwater Analytics Price Performance

Shares of NYSE CWAN traded up $0.08 during trading on Friday, hitting $18.52. The company had a trading volume of 23,553,553 shares, compared to its average volume of 1,616,120. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.28 and a 52 week high of $21.89. The business’s 50-day moving average is $18.48 and its 200 day moving average is $18.49. The company has a market cap of $4.55 billion, a P/E ratio of -231.50, a PEG ratio of 7.20 and a beta of 0.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.59 and a current ratio of 5.59.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The firm had revenue of $102.70 million for the quarter, compared to the consensus estimate of $100.55 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. Equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.13 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.