Norges Bank Takes $59.40 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Norges Bank acquired a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,158,519 shares of the company’s stock, valued at approximately $59,402,000.

A number of other large investors have also bought and sold shares of CWAN. GAMMA Investing LLC lifted its stake in shares of Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after buying an additional 468 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Clearwater Analytics in the fourth quarter worth $57,000. R Squared Ltd purchased a new stake in Clearwater Analytics during the 4th quarter worth about $80,000. Nisa Investment Advisors LLC grew its holdings in Clearwater Analytics by 174.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock valued at $86,000 after buying an additional 1,987 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Clearwater Analytics during the 4th quarter valued at about $88,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $25.07 on Friday. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 8.23 and a beta of 0.69. The stock has a fifty day moving average of $28.10 and a 200 day moving average of $27.95. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

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

Insiders Place Their Bets

In other news, CRO Scott Stanley Erickson sold 76,256 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the sale, the executive now owns 78,363 shares in the company, valued at approximately $2,356,375.41. The trade was a 49.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sandeep Sahai sold 218,687 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $6,575,918.09. Following the completion of the sale, the chief executive officer now directly owns 681,588 shares in the company, valued at $20,495,351.16. This represents a 24.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 644,510 shares of company stock worth $18,688,862. Company insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CWAN shares. UBS Group lifted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their target price for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Wells Fargo & Company boosted their price objective 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, Royal Bank of Canada increased their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.80.

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.