Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Director Kathleen A. Corbet Sells 12,634 Shares

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Director Kathleen A. Corbet sold 12,634 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the sale, the director now directly owns 14,498 shares in the company, valued at approximately $343,022.68. The trade was a 46.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Clearwater Analytics Trading Down 1.3%

Shares of NYSE:CWAN opened at $22.15 on Friday. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.63 and a 52-week high of $35.71. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 8.23 and a beta of 0.79. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $23.99 and a 200-day moving average price of $27.23.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.86 million during the quarter, compared to analysts’ expectations of $125.11 million. During the same period last year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. Equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on CWAN shares. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. UBS Group raised their price target on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada raised their price target on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company lowered their price target on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Piper Sandler lowered their price target on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics currently has an average rating of “Moderate Buy” and a consensus price target of $32.40.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Clearwater Analytics by 11.3% during the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after acquiring an additional 2,366,715 shares in the last quarter. Alliancebernstein L.P. raised its position in Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after acquiring an additional 2,931,445 shares in the last quarter. Wellington Management Group LLP raised its position in Clearwater Analytics by 7.7% during the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock valued at $171,866,000 after acquiring an additional 458,444 shares in the last quarter. Invesco Ltd. raised its position in Clearwater Analytics by 34.1% during the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock valued at $152,930,000 after acquiring an additional 1,452,474 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Clearwater Analytics by 52.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after acquiring an additional 1,585,869 shares in the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

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.