Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 52.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,613,815 shares of the company’s stock after purchasing an additional 1,585,869 shares during the period. JPMorgan Chase & Co. owned approximately 1.87% of Clearwater Analytics worth $126,972,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CWAN. Principal Financial Group Inc. boosted its stake in Clearwater Analytics by 1,600.9% during the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock valued at $39,690,000 after buying an additional 1,357,425 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Clearwater Analytics by 189.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after purchasing an additional 830,684 shares during the last quarter. Moody Aldrich Partners LLC raised its holdings in shares of Clearwater Analytics by 32.4% in the 4th quarter. Moody Aldrich Partners LLC now owns 386,424 shares of the company’s stock worth $10,634,000 after purchasing an additional 94,454 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Clearwater Analytics by 46.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,040,188 shares of the company’s stock valued at $28,626,000 after purchasing an additional 328,542 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Clearwater Analytics by 43.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,178 shares of the company’s stock worth $1,570,000 after buying an additional 18,712 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Analytics Stock Down 2.3 %

CWAN stock opened at $26.18 on Wednesday. The company has a 50 day moving average of $28.21 and a two-hundred day moving average of $27.98. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data 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 firm had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. On average, equities analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Clearwater Analytics news, insider Subi Sethi sold 62,482 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the transaction, the insider now directly owns 144,973 shares of the company’s stock, valued at $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 76,256 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $2,293,017.92. Following the sale, the executive now owns 78,363 shares of the company’s stock, valued at approximately $2,356,375.41. This trade represents a 49.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 644,510 shares of company stock worth $18,688,862. Insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CWAN shares. Wells Fargo & Company raised their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. UBS Group lifted their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Oppenheimer upped their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus price target 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.