Summit Investment Advisors Inc. Buys 3,336 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Summit Investment Advisors Inc. boosted its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 21.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,708 shares of the company’s stock after purchasing an additional 3,336 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Clearwater Analytics were worth $515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CWAN. FMR LLC raised its position in shares of Clearwater Analytics by 171.4% in the 3rd quarter. FMR LLC now owns 9,169 shares of the company’s stock valued at $232,000 after buying an additional 5,790 shares in the last quarter. HighTower Advisors LLC acquired a new position in Clearwater Analytics during the third quarter valued at approximately $237,000. Barclays PLC lifted its stake in Clearwater Analytics by 105.6% during the third quarter. Barclays PLC now owns 571,860 shares of the company’s stock worth $14,439,000 after purchasing an additional 293,719 shares during the last quarter. Geode Capital Management LLC boosted 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. Finally, Sanctuary Advisors LLC increased its stake in shares of Clearwater Analytics by 30.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,126 shares of the company’s stock valued at $533,000 after purchasing an additional 4,923 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their target price for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Royal Bank of Canada upped their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Wells Fargo & Company upped their price target on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Morgan Stanley reissued an “overweight” rating and set a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.80.

Insider Transactions at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 4,141 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.65, for a total transaction of $114,498.65. Following the transaction, the executive now owns 7,902 shares in the company, valued at approximately $218,490.30. This represents a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Subi Sethi sold 62,482 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the sale, the insider now owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 644,510 shares of company stock valued at $18,478,363. Corporate insiders own 4.60% of the company’s stock.

Clearwater Analytics Price Performance

Shares of CWAN opened at $23.04 on Friday. The business has a 50-day moving average of $26.81 and a 200-day moving average of $27.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The firm had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. As a group, equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics 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.