Cookson Peirce & Co. Inc. Buys Shares of 21,976 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Cookson Peirce & Co. Inc. bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 21,976 shares of the company’s stock, valued at approximately $605,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Champlain Investment Partners LLC purchased a new stake in shares of Clearwater Analytics during the 3rd quarter valued at $53,559,000. Principal Financial Group Inc. lifted its holdings in shares of Clearwater Analytics by 1,600.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock valued at $39,690,000 after purchasing an additional 1,357,425 shares during the last quarter. State Street Corp lifted its holdings in shares of Clearwater Analytics by 38.7% during the 3rd 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. Stephens Investment Management Group LLC lifted its holdings in shares of Clearwater Analytics by 189.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock valued at $34,926,000 after purchasing an additional 830,684 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after purchasing an additional 559,564 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $30.72 on Thursday. The stock has a 50-day simple moving average of $28.28 and a two-hundred day simple moving average of $27.54. The firm has a market capitalization of $7.59 billion, a P/E ratio of 18.50, a PEG ratio of 8.23 and a beta of 0.72. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

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

Insider Activity

In other news, insider Subi Sethi sold 62,482 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the sale, the insider now directly owns 144,973 shares in the company, valued at $4,359,338.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Souvik Das sold 76,844 shares of Clearwater Analytics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $2,310,699.08. Following the completion of the sale, the chief technology officer now owns 68,902 shares in the company, valued at approximately $2,071,883.14. The trade was a 52.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 733,431 shares of company stock worth $21,444,493 in the last ninety days. Company insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

CWAN has been the subject of several analyst reports. Oppenheimer increased their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. 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. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. Finally, UBS Group raised their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average 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.