Shannon River Fund Management LLC Sells 35,679 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Shannon River Fund Management LLC lowered its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWANFree Report) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 567,866 shares of the company’s stock after selling 35,679 shares during the quarter. Clearwater Analytics makes up 2.1% of Shannon River Fund Management LLC’s investment portfolio, making the stock its 12th largest position. Shannon River Fund Management LLC’s holdings in Clearwater Analytics were worth $11,374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CWAN. Eagle Bay Advisors LLC raised its holdings in shares of Clearwater Analytics by 213.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock valued at $36,000 after acquiring an additional 1,207 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in Clearwater Analytics during the fourth quarter valued at about $90,000. Asset Management One Co. Ltd. bought a new stake in Clearwater Analytics during the fourth quarter worth about $134,000. D.A. Davidson & CO. purchased a new position in shares of Clearwater Analytics in the 4th quarter worth about $211,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Clearwater Analytics during the 4th quarter valued at about $272,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $20.00 target price on shares of Clearwater Analytics in a report on Thursday, February 29th. Morgan Stanley reissued an “equal weight” rating and issued a $19.00 price target on shares of Clearwater Analytics in a research note on Thursday, May 2nd. DA Davidson reaffirmed a “buy” rating and set a $24.00 price objective on shares of Clearwater Analytics in a research note on Monday, February 5th. Finally, Wells Fargo & Company lowered their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.70.

Get Our Latest Stock Analysis on Clearwater Analytics

Clearwater Analytics Trading Up 0.8 %

CWAN traded up $0.16 during midday trading on Tuesday, reaching $19.08. 1,374,965 shares of the company’s stock traded hands, compared to its average volume of 1,177,054. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.28 and a 52 week high of $21.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.59 and a quick ratio of 5.59. The firm has a fifty day moving average of $17.59 and a two-hundred day moving average of $18.61. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -238.25, a P/E/G ratio of 7.41 and a beta of 0.58.

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

Insider Activity

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $16.90, for a total value of $274,625,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Subi Sethi sold 18,599 shares of the 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 of the company’s stock, valued at approximately $1,508,519.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,268,600 shares of company stock valued at $274,986,956. Corporate insiders own 2.10% of the company’s stock.

Clearwater Analytics Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CWAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clearwater Analytics Holdings, Inc. (NYSE:CWANFree Report).

Institutional Ownership by Quarter for Clearwater Analytics (NYSE:CWAN)

Receive News & Ratings for Clearwater Analytics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearwater Analytics and related companies with MarketBeat.com's FREE daily email newsletter.