Investment Manager Sells $3.2 Million Worth of CWAN Stock, According to Recent SEC Filing
Key Points
Sold 159,998 shares of CWAN; estimated trade size was $3.20 million based on quarterly average pricing
Quarter-end value of CWAN position increased $11.54 million, reflecting both trading activity and stock price movements
Change represents approximately 0.42% of Tensile’s reportable U.S. equity assets under management
Post-trade stake: 2,364,674 shares valued at $57.04 million
Clearwater Analytics now comprises 7.39% of the fund’s AUM, placing it outside the fund’s top five holdings
On February 17, 2026, Tensile Capital Management LP disclosed a sale of 159,998 shares of Clearwater Analytics (NYSE:CWAN), with an estimated transaction value of $3.20 million based on quarterly average pricing.
What Happened
According to an SEC filing dated February 17, 2026, Tensile Capital Management LP reduced its stake in Clearwater Analytics by 159,998 shares during the fourth quarter. The estimated transaction value was $3.20 million, based on the average closing price for the period. The quarter-end value of the position rose by $11.54 million, capturing the impact of both share sales and price appreciation.
What Else to Know
- Following the sale, Clearwater Analytics represented 7.39% of Tensile’s reportable U.S. equity AUM.
- Top holdings after the filing:
- NYSE: LAD: $74.70 million (9.7% of AUM)
- NYSE: DKS: $70.84 million (9.2% of AUM)
- NASDAQ: VERX: $68.30 million (8.9% of AUM)
- NYSE: CCK: $63.04 million (8.2% of AUM)
- NYSE: VVV: $60.99 million (7.9% of AUM)
- As of February 17, 2026, CWAN shares were priced at $22.93, down 17.0% over the past year and underperforming the S&P 500 by 26.71 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Market Capitalization | $6.62 billion |
| Revenue (TTM) | $451.80 million |
| Net Income (TTM) | $424.38 million |
| Price (as of market close February 17, 2026) | $22.93 |
Company Snapshot
- Clearwater Analytics provides cloud-based software solutions for automated investment data aggregation, reconciliation, accounting, and reporting, with a focus on investment accounting, performance measurement, compliance monitoring, and risk analytics.
- The company operates a Software-as-a-Service (SaaS) business model, generating revenue primarily through subscriptions and usage fees for its analytics and reporting platforms.
- Its primary customers include insurers, investment managers, corporations, institutional investors, and government entities seeking robust investment data management and reporting solutions.
Clearwater Analytics Holdings, Inc. is a leading provider of SaaS-based investment data management and analytics solutions, serving a global client base from its headquarters in Boise, Idaho. The company leverages proprietary technology to deliver automated, scalable, and integrated reporting and risk analytics for institutional asset owners and managers. Its focus on automation and data accuracy positions it as a strategic partner for clients requiring comprehensive investment accounting and compliance tools.
What This Transaction Means for Investors
Tensile Capital Management, a California-based investment firm, recently disclosed the sale of 160,000 shares of Clearwater Analytics stock, valued at approximately $3.2 million. Here’s what it means for average investors.
First off, we must address the big story here: Clearwater, a SaaS stock, is an acquisition target. A consortium of investors have launched an $8.4 billion take-private deal which is set to close sometime during Q2 2026 (the three months ending on June 30, 2026). Under the terms of the deal, Clearwater shareholders will receive $24.55 per share. Currently, shares are trading slightly below this level indicating that there is some uncertainty about whether the deal will go through in its current form.
Nonetheless, for average investors, acquisition targets are not stocks worthy of attention. So, while this institutional transaction is interesting, there’s no reason for retail investors to take a position in Clearwater stock.
Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.