Cannon Global Investment Management LLC Buys New Shares in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Cannon Global Investment Management LLC bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 48,500 shares of the company’s stock, valued at approximately $858,000. Clearwater Analytics accounts for approximately 2.3% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 7th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in CWAN. Allspring Global Investments Holdings LLC increased its stake in Clearwater Analytics by 65.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after purchasing an additional 1,335,802 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Clearwater Analytics by 46.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,887 shares of the company’s stock worth $14,019,000 after buying an additional 221,492 shares during the period. Vanguard Group Inc. raised its stake in Clearwater Analytics by 13.8% during the 3rd quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock worth $182,780,000 after buying an additional 1,148,338 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Clearwater Analytics during the 3rd quarter worth approximately $2,551,000. Finally, Swiss National Bank raised its stake in Clearwater Analytics by 37.3% during the 4th quarter. Swiss National Bank now owns 237,500 shares of the company’s stock worth $4,757,000 after buying an additional 64,500 shares during the period. Institutional investors own 50.10% of the company’s stock.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, insider Subi Sethi sold 18,599 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $19.46, for a total value of $361,936.54. Following the completion of the transaction, the insider now owns 77,519 shares in the company, valued at approximately $1,508,519.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Warburg Pincus Llc sold 7,000,000 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $19.71, for a total value of $137,970,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Subi Sethi sold 18,599 shares of Clearwater Analytics stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $19.46, for a total transaction of $361,936.54. Following the completion of the sale, the insider now directly owns 77,519 shares in the company, valued at approximately $1,508,519.74. The disclosure for this sale can be found here. Insiders have sold 7,193,079 shares of company stock worth $141,831,984 in the last 90 days. Insiders own 2.10% of the company’s stock.

Clearwater Analytics Stock Up 0.4 %

NYSE CWAN traded up $0.08 on Friday, reaching $18.52. The company had a trading volume of 23,553,553 shares, compared to its average volume of 1,616,120. The stock has a market capitalization of $4.55 billion, a P/E ratio of -231.50, a P/E/G ratio of 7.20 and a beta of 0.58. The company’s fifty day moving average is $18.48 and its 200 day moving average is $18.49. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.28 and a 52-week high of $21.89. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.25%. The company had revenue of $102.70 million for the quarter, compared to analyst estimates of $100.55 million. During the same period last year, the firm earned $0.07 earnings per share. The firm’s revenue was up 21.4% on a year-over-year basis. Sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CWAN shares. JPMorgan Chase & Co. dropped their price target on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company cut their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $19.00 price objective on shares of Clearwater Analytics in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.70.

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.