Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 41.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,027,946 shares of the company’s stock after selling 2,112,043 shares during the quarter. JPMorgan Chase & Co.’s holdings in Clearwater Analytics were worth $76,456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CWAN. Seven Eight Capital LP acquired a new position in Clearwater Analytics in the 2nd quarter worth $1,797,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Clearwater Analytics during the 3rd quarter worth approximately $3,677,000. Loomis Sayles & Co. L P raised its position in shares of Clearwater Analytics by 11.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock valued at $83,186,000 after purchasing an additional 327,880 shares in the last quarter. Swiss National Bank grew its position in shares of Clearwater Analytics by 8.5% during the third quarter. Swiss National Bank now owns 312,900 shares of the company’s stock worth $7,901,000 after buying an additional 24,600 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Clearwater Analytics in the third quarter worth $523,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada lifted their target price on Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Oppenheimer raised their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group increased their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Finally, 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. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.89.

Insider Transactions at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 139,172 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the completion of the transaction, the chief executive officer now owns 441,724 shares of the company’s stock, valued at $12,783,492.56. This trade represents a 23.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $29.65, for a total transaction of $554,455.00. Following the completion of the sale, the chief financial officer now directly owns 214,044 shares of the company’s stock, valued at $6,346,404.60. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,942 shares of company stock valued at $5,972,366. 4.60% of the stock is currently owned by corporate insiders.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $27.86 on Friday. The business has a 50 day simple moving average of $29.30 and a 200 day simple moving average of $25.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 2,788.79, a price-to-earnings-growth ratio of 10.57 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71.

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.