Principal Financial Group Inc. Acquires 65,878 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Principal Financial Group Inc. increased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 348.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,793 shares of the company’s stock after purchasing an additional 65,878 shares during the quarter. Principal Financial Group Inc.’s holdings in Clearwater Analytics were worth $2,141,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Clearwater Analytics by 17.2% during the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after acquiring an additional 2,219,459 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Clearwater Analytics by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock worth $210,659,000 after purchasing an additional 128,402 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Clearwater Analytics by 0.6% in the 2nd quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock valued at $193,178,000 after purchasing an additional 66,528 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Clearwater Analytics by 1.6% in the third quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock valued at $171,156,000 after purchasing an additional 107,210 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new position in shares of Clearwater Analytics during the second quarter worth about $43,280,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Analytics Trading Up 0.5 %

Shares of NYSE:CWAN opened at $31.91 on Friday. The company has a 50-day simple moving average of $26.99 and a 200 day simple moving average of $22.84. The company has a market capitalization of $7.88 billion, a P/E ratio of 3,183.18, a price-to-earnings-growth ratio of 11.01 and a beta of 0.61. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $35.71.

Insider Activity

In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total transaction of $92,387.50. Following the completion of the transaction, the executive now owns 4,844 shares in the company, valued at approximately $115,045. This trade represents a 44.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,852,086 shares of company stock valued at $44,971,367 over the last three months. Insiders own 3.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. DA Davidson downgraded shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and raised their target price for the company from $31.00 to $35.00 in a research report on Friday, November 8th. Citigroup began coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price target on the stock. Piper Sandler increased their price objective 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. Finally, Royal Bank of Canada lifted their target price on Clearwater Analytics from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.11.

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.