Fox Run Management L.L.C. Invests $869,000 in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Fox Run Management L.L.C. bought a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 31,571 shares of the company’s stock, valued at approximately $869,000.

Several other hedge funds also recently made changes to their positions in the company. Wasatch Advisors LP lifted its stake in shares of Clearwater Analytics by 3.2% in the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after acquiring an additional 559,564 shares during the period. State Street Corp increased its holdings in shares of Clearwater Analytics by 38.7% in the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after purchasing an additional 1,009,548 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Clearwater Analytics by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock valued at $88,710,000 after purchasing an additional 187,881 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Clearwater Analytics by 11.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock valued at $83,186,000 after purchasing an additional 327,880 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Clearwater Analytics by 10.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,003,930 shares of the company’s stock valued at $75,849,000 after purchasing an additional 281,958 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CWAN. Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price target for the company from $28.00 to $36.00 in a report on Thursday, February 20th. Royal Bank of Canada increased their price target on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Morgan Stanley restated an “overweight” rating and set a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. UBS Group raised their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their target price for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $26.52 on Monday. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71. The stock has a market capitalization of $6.66 billion, a P/E ratio of 15.98, a P/E/G ratio of 8.23 and a beta of 0.69. The firm’s 50-day moving average is $28.26 and its two-hundred day moving average is $27.82. 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 (NYSE:CWAN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $27.63, for a total value of $1,381,500.00. Following the sale, the chief executive officer now directly owns 615,855 shares of the company’s stock, valued at approximately $17,016,073.65. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $26.58, for a total transaction of $497,046.00. Following the completion of the sale, the chief financial officer now directly owns 358,502 shares in the company, valued at $9,528,983.16. This represents a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 644,510 shares of company stock valued at $18,688,862. Insiders own 4.60% of the company’s stock.

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.