FORA Capital LLC Purchases New Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

FORA Capital LLC purchased a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the third quarter, HoldingsChannel reports. The institutional investor purchased 41,829 shares of the company’s stock, valued at approximately $1,056,000.

Other large investors have also recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new stake in shares of Clearwater Analytics during the second quarter valued at approximately $43,280,000. Champlain Investment Partners LLC acquired a new position in Clearwater Analytics in the 3rd quarter worth $53,559,000. Stephens Investment Management Group LLC purchased a new position in Clearwater Analytics in the 3rd quarter valued at about $11,071,000. Emerald Advisers LLC acquired a new stake in shares of Clearwater Analytics during the third quarter valued at about $10,150,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Clearwater Analytics by 66.0% in the second quarter. Bank of New York Mellon Corp now owns 956,527 shares of the company’s stock worth $17,715,000 after acquiring an additional 380,154 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total value of $92,387.50. Following the sale, the executive now directly owns 4,844 shares in the company, valued at $115,045. This trade represents a 44.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $30.34, for a total transaction of $567,358.00. Following the completion of the transaction, the chief financial officer now owns 219,044 shares of the company’s stock, valued at approximately $6,645,794.96. This trade represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,770 shares of company stock worth $1,826,606 in the last 90 days. 4.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CWAN. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. Citigroup assumed coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price target for the company. Oppenheimer upped their price target on shares of Clearwater Analytics from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley boosted their target price on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, DA Davidson cut shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and increased their price target for the stock from $31.00 to $35.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.11.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $31.17 on Friday. The company has a market cap of $7.70 billion, a P/E ratio of 3,117.00, a PEG ratio of 11.57 and a beta of 0.61. The business has a 50 day moving average of $27.58 and a two-hundred day moving average of $23.27. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week 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.

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.