Pier Capital LLC Takes Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Pier Capital LLC acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 128,570 shares of the company’s stock, valued at approximately $3,538,000.

A number of other hedge funds also recently bought and sold shares of CWAN. GAMMA Investing LLC boosted its position in Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after purchasing an additional 468 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Clearwater Analytics in the fourth quarter worth approximately $57,000. R Squared Ltd bought a new stake in Clearwater Analytics during the fourth quarter valued at approximately $80,000. Nisa Investment Advisors LLC increased its holdings in Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock valued at $86,000 after buying an additional 1,987 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in Clearwater Analytics in the fourth quarter worth approximately $88,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Insider Activity

In other news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $15,944,485.95. This represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Souvik Das sold 76,844 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,310,699.08. Following the completion of the transaction, the chief technology officer now directly owns 68,902 shares of the company’s stock, valued at approximately $2,071,883.14. This trade represents a 52.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 644,510 shares of company stock worth $18,688,862 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Clearwater Analytics Trading Up 2.3 %

Shares of CWAN opened at $27.11 on Tuesday. The firm has a market cap of $6.80 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69. 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. The company has a 50 day simple moving average of $28.28 and a two-hundred day simple moving average of $27.85.

Clearwater Analytics (NYSE:CWAN) last posted 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). The company had revenue of $126.47 million for the quarter, compared to analysts’ expectations of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. On average, equities analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CWAN has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $28.00 to $36.00 in a report on Thursday, February 20th. 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. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their price objective for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Finally, Oppenheimer lifted their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus target price 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.