Principal Financial Group Inc. Raises Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Principal Financial Group Inc. boosted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 348.3% in the 3rd quarter, Holdings Channel reports. The fund owned 84,793 shares of the company’s stock after acquiring an additional 65,878 shares during the quarter. Principal Financial Group Inc.’s holdings in Clearwater Analytics were worth $2,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hood River Capital Management LLC acquired a new position in Clearwater Analytics in the 2nd quarter valued at about $43,280,000. Champlain Investment Partners LLC purchased a new position in Clearwater Analytics in the third quarter valued at approximately $53,559,000. State Street Corp boosted its stake in Clearwater Analytics by 38.7% in the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after acquiring an additional 1,009,548 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Clearwater Analytics by 3.2% during the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after purchasing an additional 559,564 shares in the last quarter. Finally, Stephens Investment Management Group LLC purchased a new stake in shares of Clearwater Analytics in the 3rd quarter valued at about $11,071,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the transaction, the chief financial officer now owns 224,044 shares in the company, valued at $5,860,991.04. This trade represents a 7.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $25.38, for a total transaction of $98,728.20. Following the transaction, the executive now directly owns 6,373 shares in the company, valued at $161,746.74. The trade was a 37.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,942 shares of company stock worth $5,972,366. 4.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CWAN. The Goldman Sachs Group lifted their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Oppenheimer upped their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Piper Sandler increased their target price on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada upped their price objective on shares of Clearwater Analytics from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.89.

Clearwater Analytics Stock Up 2.4 %

Shares of NYSE:CWAN opened at $27.86 on Friday. The stock 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. The company’s fifty day moving average is $29.30 and its two-hundred day moving average is $25.07. 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 1-year low of $15.62 and a 1-year 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.