Summit Creek Advisors LLC Invests $5.43 Million in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Summit Creek Advisors LLC bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 293,320 shares of the company’s stock, valued at approximately $5,432,000.

Several other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Clearwater Analytics by 46.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,887 shares of the company’s stock valued at $14,019,000 after acquiring an additional 221,492 shares during the last quarter. Thornburg Investment Management Inc. lifted its holdings in Clearwater Analytics by 31.7% in the 1st quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock worth $5,860,000 after buying an additional 79,707 shares during the period. Swiss National Bank grew its position in shares of Clearwater Analytics by 37.3% in the 4th quarter. Swiss National Bank now owns 237,500 shares of the company’s stock worth $4,757,000 after buying an additional 64,500 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Clearwater Analytics by 22.3% during the first quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after buying an additional 23,971 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Clearwater Analytics during the first quarter valued at approximately $825,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 6,275 shares of Clearwater Analytics stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.10, for a total value of $126,127.50. Following the completion of the sale, the chief financial officer now directly owns 235,962 shares in the company, valued at approximately $4,742,836.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO James S. Cox sold 6,275 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.10, for a total value of $126,127.50. Following the sale, the chief financial officer now owns 235,962 shares in the company, valued at $4,742,836.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Souvik Das sold 25,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $18.92, for a total transaction of $473,000.00. Following the sale, the chief technology officer now owns 10,453 shares of the company’s stock, valued at $197,770.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,930,803 shares of company stock worth $385,864,308. Insiders own 2.10% of the company’s stock.

Clearwater Analytics Price Performance

CWAN opened at $23.85 on Friday. The firm has a market cap of $5.86 billion, a PE ratio of -298.13, a P/E/G ratio of 8.98 and a beta of 0.57. The stock has a 50-day moving average price of $21.61 and a 200-day moving average price of $19.24. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $24.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $106.79 million during the quarter, compared to analysts’ expectations of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share. Sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup started coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price target for the company. Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Monday, July 8th. Finally, Piper Sandler raised their target price on Clearwater Analytics from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.45.

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.