Wed Oct 02 15:24:51 UTC 2024: ## Ghisallo Capital Management Takes a Stake in Clearwater Analytics

**New York, NY** – Ghisallo Capital Management LLC has acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN), according to the company’s latest filing with the Securities & Exchange Commission. The institutional investor purchased 250,000 shares of the company’s stock, valued at approximately $4.63 million, giving them a 0.10% ownership stake in the company.

This move comes amidst a flurry of activity by other hedge funds in the Clearwater Analytics market. Blair William & Co. IL increased its holdings by 1.6%, Arizona State Retirement System by 2.1%, and RiverPark Advisors LLC by 33.1% in the second quarter. Additionally, Advisors Asset Management Inc. and Benjamin F. Edwards & Company Inc. boosted their stakes significantly in the first quarter.

Analysts are also taking notice of Clearwater Analytics. Royal Bank of Canada upgraded its price target to $28.00 from $25.00 and assigned an “outperform” rating. Citigroup initiated coverage with a “buy” rating and a $28.00 target price, while Oppenheimer raised its rating from “market perform” to “outperform” and set a $25.00 target. Overall, analysts have a “Moderate Buy” rating on CWAN shares with a consensus price target of $23.78.

While insider selling has been observed recently, with CRO Scott Stanley Erickson selling 3,890 shares and Director Warburg Pincus Llc selling 9,000,000 shares, the overall institutional ownership of CWAN remains high at 50.10%.

Clearwater Analytics (NYSE:CWAN) provides a cloud-based solution for investment data aggregation, reconciliation, accounting, and reporting services to a variety of clients. The company reported earnings per share of $0.10 for the second quarter, meeting analysts’ expectations and exceeding the previous year’s earnings. Revenue for the quarter was up 18.8% year-over-year, reaching $106.79 million.

Despite the recent insider selling, the overall positive sentiment from institutional investors and analysts indicates a strong belief in Clearwater Analytics’ future performance. With a growing market share and impressive financial results, the company appears well-positioned for further growth.

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