Allspring Global Investments Holdings LLC Trims Stock Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Allspring Global Investments Holdings LLC reduced its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 22.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,605,351 shares of the company’s stock after selling 766,745 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Clearwater Analytics were worth $70,903,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CWAN. GAMMA Investing LLC lifted its holdings in shares of Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after purchasing an additional 468 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Clearwater Analytics during the 3rd quarter worth $45,000. Financial Management Professionals Inc. acquired a new stake in shares of Clearwater Analytics in the 3rd quarter worth $58,000. R Squared Ltd purchased a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $80,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after acquiring an additional 1,987 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Trading Down 0.9 %

Shares of CWAN stock opened at $27.44 on Thursday. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $28.22 and a 200-day simple moving average of $26.83. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The stock has a market cap of $6.78 billion, a P/E ratio of 2,746.75, a P/E/G ratio of 7.82 and a beta of 0.72.

Wall Street Analyst Weigh In

CWAN has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $30.00 to $34.00 in a research report on Friday, January 17th. The Goldman Sachs Group raised their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. Oppenheimer raised their target price on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler upped their price target on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.33.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 139,172 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.94, for a total value of $4,027,637.68. Following the transaction, the chief executive officer now directly owns 441,724 shares in the company, valued at approximately $12,783,492.56. This represents a 23.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $30.34, for a total transaction of $567,358.00. Following the sale, the chief financial officer now directly owns 219,044 shares in the company, valued at $6,645,794.96. This represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,162 shares of company stock valued at $7,060,811 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

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.