Zweig DiMenna Associates LLC Buys New Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Zweig DiMenna Associates LLC acquired a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 195,700 shares of the company’s stock, valued at approximately $4,941,000. Zweig DiMenna Associates LLC owned approximately 0.08% of Clearwater Analytics as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after purchasing an additional 1,234 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Clearwater Analytics by 389.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after buying an additional 1,549 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Clearwater Analytics in the 3rd quarter worth $45,000. Amalgamated Bank bought a new stake in shares of Clearwater Analytics in the 2nd quarter worth $90,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Clearwater Analytics in the 2nd quarter worth $91,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Oppenheimer boosted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Wells Fargo & Company boosted their target price on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler restated a “neutral” rating and issued a $23.00 target price on shares of Clearwater Analytics in a research note on Monday, September 9th. Finally, Citigroup started coverage on Clearwater Analytics in a research report on Monday, August 19th. They issued a “buy” rating and a $28.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

Insiders Place Their Bets

In other news, insider Subi Sethi sold 21,497 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the completion of the sale, the insider now directly owns 81,812 shares of the company’s stock, valued at $1,988,031.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO James S. Cox sold 14,850 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.02, for a total transaction of $326,997.00. Following the completion of the sale, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at approximately $5,119,716.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Subi Sethi sold 21,497 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the sale, the insider now directly owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,879,543 shares of company stock valued at $247,145,339. 2.10% of the stock is currently owned by corporate insiders.

Clearwater Analytics Trading Up 0.2 %

Clearwater Analytics stock opened at $26.27 on Friday. The business has a 50 day moving average price of $25.04 and a two-hundred day moving average price of $21.10. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -328.38, a price-to-earnings-growth ratio of 9.16 and a beta of 0.62. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $27.65.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $106.79 million for the quarter, compared to analyst estimates of $105.51 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. As a group, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 EPS 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.