Quantum Private Wealth LLC Invests $311,000 in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Quantum Private Wealth LLC purchased a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,507 shares of the company’s stock, valued at approximately $311,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CWAN. Advisor Group Holdings Inc. boosted its stake in Clearwater Analytics by 17.8% during the first quarter. Advisor Group Holdings Inc. now owns 6,823 shares of the company’s stock worth $143,000 after buying an additional 1,029 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Clearwater Analytics during the 1st quarter valued at about $12,870,000. Citigroup Inc. purchased a new stake in shares of Clearwater Analytics in the first quarter valued at about $143,000. BlackRock Inc. increased its position in Clearwater Analytics by 4.6% during the first quarter. BlackRock Inc. now owns 470,328 shares of the company’s stock worth $9,877,000 after purchasing an additional 20,705 shares during the last quarter. Finally, Durable Capital Partners LP raised its stake in Clearwater Analytics by 11.3% during the first quarter. Durable Capital Partners LP now owns 8,945,959 shares of the company’s stock worth $187,865,000 after purchasing an additional 908,588 shares during the period. 50.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $987,000.00. Following the sale, the chief executive officer now directly owns 270,838 shares in the company, valued at $5,346,342.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.90, for a total transaction of $274,625,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,310,000 shares of company stock worth $275,809,400 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CWAN shares. Piper Sandler reissued a “neutral” rating and issued a $20.00 price target on shares of Clearwater Analytics in a research note on Thursday, February 29th. DA Davidson reiterated a “buy” rating and issued a $24.00 price objective on shares of Clearwater Analytics in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. downgraded Clearwater Analytics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $24.00 to $22.00 in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.00.

Clearwater Analytics Stock Performance

Shares of NYSE CWAN traded up $0.09 during midday trading on Wednesday, hitting $16.23. The company’s stock had a trading volume of 678,992 shares, compared to its average volume of 1,152,588. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $17.81 and its two-hundred day simple moving average is $18.97. Clearwater Analytics Holdings, Inc. has a 1 year low of $13.02 and a 1 year high of $21.89.

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.