Hood River Capital Management LLC Sells 1,668,551 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Hood River Capital Management LLC cut its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 51.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,591,959 shares of the company’s stock after selling 1,668,551 shares during the period. Hood River Capital Management LLC owned about 0.64% of Clearwater Analytics worth $43,811,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CWAN. GAMMA Investing LLC grew its holdings in Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after acquiring an additional 468 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Clearwater Analytics during the 4th quarter worth $57,000. R Squared Ltd bought a new position in Clearwater Analytics in the 4th quarter valued at $80,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Clearwater Analytics in the 4th quarter valued at $82,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after acquiring an additional 1,987 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CWAN. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their target price for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Royal Bank of Canada increased their price target 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 lifted their price objective for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. UBS Group boosted their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company lowered their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.30.

Clearwater Analytics Price Performance

NYSE CWAN opened at $21.87 on Wednesday. The firm’s 50 day moving average is $26.48 and its 200-day moving average is $27.71. 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 Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a market capitalization of $5.49 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $120.34 million. Equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Clearwater Analytics news, insider Subi Sethi sold 62,482 shares of the stock in a transaction on 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 transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $27.63, for a total transaction of $1,381,500.00. Following the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $17,016,073.65. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock valued at $18,478,363 over the last 90 days. 4.60% of the stock is currently owned by insiders.

Clearwater Analytics Company 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.