State of New Jersey Common Pension Fund D Sells 12,983 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

State of New Jersey Common Pension Fund D lessened its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 13.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,763 shares of the company’s stock after selling 12,983 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Clearwater Analytics were worth $2,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Thornburg Investment Management Inc. raised its stake in Clearwater Analytics by 31.7% during the first quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock worth $5,860,000 after buying an additional 79,707 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Clearwater Analytics by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after purchasing an additional 23,971 shares during the period. Jane Street Group LLC boosted its position in shares of Clearwater Analytics by 234.2% during the 1st quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock valued at $4,702,000 after purchasing an additional 186,273 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Clearwater Analytics during the second quarter worth approximately $1,797,000. Finally, Silvercrest Asset Management Group LLC increased its holdings in Clearwater Analytics by 25.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 994,017 shares of the company’s stock worth $17,584,000 after purchasing an additional 201,217 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CWAN shares. Oppenheimer increased their price target on Clearwater Analytics from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Piper Sandler raised their price target on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley upped their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Citigroup started coverage on Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 target price for the company. Finally, JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.67.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the completion of the transaction, the executive now owns 4,844 shares in the company, valued at $115,045. The trade was a 44.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,854,883 shares of company stock valued at $44,926,386 over the last 90 days. Insiders own 3.25% of the company’s stock.

Clearwater Analytics Stock Performance

Shares of CWAN opened at $30.50 on Friday. The firm has a market capitalization of $7.51 billion, a P/E ratio of 3,050.00, a P/E/G ratio of 11.29 and a beta of 0.61. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71. The stock has a 50 day moving average price of $26.42 and a two-hundred day moving average price of $22.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

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.