Thrivent Financial for Lutherans Sells 18,644 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Thrivent Financial for Lutherans trimmed its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,504 shares of the company’s stock after selling 18,644 shares during the period. Thrivent Financial for Lutherans’ holdings in Clearwater Analytics were worth $1,597,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Clearwater Analytics by 1,600.9% during the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock worth $39,690,000 after purchasing an additional 1,357,425 shares during the last quarter. State Street Corp raised its holdings in shares of Clearwater Analytics by 38.7% during the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after buying an additional 1,009,548 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in Clearwater Analytics by 189.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after buying an additional 830,684 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Clearwater Analytics in the fourth quarter worth approximately $20,482,000. Finally, Charles Schwab Investment Management Inc. grew its position in Clearwater Analytics by 28.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,660,566 shares of the company’s stock valued at $45,699,000 after acquiring an additional 365,153 shares during the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CWAN has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Oppenheimer boosted their target price on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their price target on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Clearwater Analytics presently has an average rating of “Moderate Buy” and a consensus price target of $33.80.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $26.58, for a total transaction of $497,046.00. Following the sale, the chief financial officer now owns 358,502 shares in the company, valued at $9,528,983.16. This represents a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the completion of the transaction, the chief executive officer now owns 615,855 shares of the company’s stock, valued at approximately $15,944,485.95. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 644,510 shares of company stock worth $18,688,862. 4.60% of the stock is owned by insiders.

Clearwater Analytics Stock Down 1.9 %

Shares of Clearwater Analytics stock opened at $26.51 on Monday. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $35.71. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 8.23 and a beta of 0.69. The company has a 50-day moving average of $28.28 and a 200 day moving average of $27.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The business had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. As a group, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics Company 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.