Pictet Asset Management Holding SA Grows Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Pictet Asset Management Holding SA lifted its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 180.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,541 shares of the company’s stock after purchasing an additional 47,949 shares during the period. Pictet Asset Management Holding SA’s holdings in Clearwater Analytics were worth $2,051,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Clearwater Analytics by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after buying an additional 2,455,844 shares during the period. JPMorgan Chase & Co. lifted its holdings in Clearwater Analytics by 52.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after purchasing an additional 1,585,869 shares during the last quarter. State Street Corp lifted its holdings in Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after purchasing an additional 1,009,548 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Clearwater Analytics by 5.7% in the third quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock worth $88,710,000 after purchasing an additional 187,881 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Clearwater Analytics by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,003,930 shares of the company’s stock valued at $75,849,000 after purchasing an additional 281,958 shares during the period. Institutional investors own 50.10% of the company’s stock.

Insiders Place Their Bets

In other news, insider Subi Sethi sold 62,482 shares of the business’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 $1,878,833.74. Following the completion of the sale, the insider now owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $25.89, for a total value of $1,294,500.00. Following the sale, the chief executive officer now owns 615,855 shares of the company’s stock, valued at $15,944,485.95. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock valued at $18,688,862 over the last three months. Insiders own 4.60% of the company’s stock.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $23.45 on Friday. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 8.23 and a beta of 0.69. The business has a 50 day moving average of $28.01 and a 200 day moving average of $27.94. 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 Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The business had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. On average, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. UBS Group raised their price target on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. 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. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.