Summit Creek Advisors LLC Makes New $5.43 Million Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Summit Creek Advisors LLC purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 293,320 shares of the company’s stock, valued at approximately $5,432,000. Summit Creek Advisors LLC owned 0.12% of Clearwater Analytics at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CWAN. Truist Financial Corp bought a new stake in Clearwater Analytics during the fourth quarter valued at $390,000. Russell Investments Group Ltd. increased its holdings in Clearwater Analytics by 25.8% in the fourth quarter. Russell Investments Group Ltd. now owns 111,671 shares of the company’s stock worth $2,237,000 after purchasing an additional 22,873 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Clearwater Analytics in the fourth quarter valued at approximately $288,000. Swiss National Bank boosted its holdings in shares of 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 in the last quarter. Finally, Natixis Advisors L.P. grew its position in shares of Clearwater Analytics by 1.4% during the 4th quarter. Natixis Advisors L.P. now owns 44,198 shares of the company’s stock worth $885,000 after buying an additional 616 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Insider Activity at Clearwater Analytics

In other news, insider Subi Sethi sold 21,497 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total value of $522,377.10. Following the transaction, the insider now owns 81,812 shares of the company’s stock, valued at $1,988,031.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Clearwater Analytics news, Director Warburg Pincus Llc sold 7,000,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total transaction of $137,970,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Subi Sethi sold 21,497 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the completion of the transaction, the insider now owns 81,812 shares of the company’s stock, valued at $1,988,031.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,930,803 shares of company stock worth $385,864,308. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CWAN shares. Citigroup assumed coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Piper Sandler raised their target price on Clearwater Analytics from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their price target on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research note on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.45.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $23.85 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The firm has a 50-day moving average of $21.61 and a 200-day moving average of $19.24. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $24.93. The company has a market cap of $5.86 billion, a P/E ratio of -298.13, a P/E/G ratio of 8.98 and a beta of 0.57.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $106.79 million during the quarter, compared to analyst estimates of $105.51 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS. Equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current fiscal year.

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.