MIG Capital LLC Acquires New Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

MIG Capital LLC bought a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,961 shares of the company’s stock, valued at approximately $329,000.

A number of other institutional investors have also recently added to or reduced their stakes in CWAN. Russell Investments Group Ltd. grew its position in shares of Clearwater Analytics by 6.3% in the 4th quarter. Russell Investments Group Ltd. now owns 159,844 shares of the company’s stock valued at $4,399,000 after buying an additional 9,525 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Clearwater Analytics by 15.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 427,274 shares of the company’s stock worth $11,759,000 after acquiring an additional 55,762 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Clearwater Analytics in the fourth quarter valued at approximately $792,000. Resona Asset Management Co. Ltd. acquired a new stake in Clearwater Analytics during the 4th quarter valued at approximately $991,000. Finally, Pamalican Asset Management Ltd acquired a new stake in Clearwater Analytics during the 4th quarter valued at approximately $8,256,000. 50.10% of the stock is owned by institutional investors.

Clearwater Analytics Stock Performance

Shares of CWAN opened at $23.45 on Friday. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $35.71. The company has a market cap of $5.89 billion, a PE ratio of 14.12, a P/E/G ratio of 8.23 and a beta of 0.76. The stock has a 50-day moving average of $28.01 and a 200-day moving average of $27.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 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 firm had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. On average, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Subi Sethi sold 62,482 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $1,878,833.74. Following the transaction, the insider now owns 144,973 shares in the company, valued at approximately $4,359,338.11. This trade represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 644,510 shares of company stock worth $18,688,862. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CWAN. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 price target (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 target for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Royal Bank of Canada boosted their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company raised their target price on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, Clearwater Analytics presently has an average rating of “Moderate Buy” and an average 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.