Insider Selling: Clearwater Analytics (NYSE:CWAN) CTO Sells 5,327 Shares of Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CTO Souvik Das sold 5,327 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total value of $94,181.36. Following the transaction, the chief technology officer owned 136,066 shares in the company, valued at $2,405,646.88. This represents a 3.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Souvik Das also recently made the following trade(s):

• On Monday, September 8th, Souvik Das sold 10,000 shares of Clearwater Analytics stock. The shares were sold at an average price of $20.57, for a total value of $205,700.00.
• On Wednesday, August 20th, Souvik Das sold 10,000 shares of Clearwater Analytics stock. The shares were sold at an average price of $20.00, for a total value of $200,000.00.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $17.54 on Friday. The company has a market cap of $5.13 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 4.45 and a beta of 0.69. The stock’s 50 day simple moving average is $19.57 and its 200-day simple moving average is $21.90. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.41 and a 1-year high of $35.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company had revenue of $181.94 million for the quarter, compared to analysts’ expectations of $174.16 million. During the same quarter in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was up 70.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics announced that its board has initiated a stock repurchase program on Wednesday, September 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 1.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Clearwater Analytics

Several institutional investors and hedge funds have recently made changes to their positions in CWAN. First Horizon Advisors Inc. lifted its holdings in shares of Clearwater Analytics by 278.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock valued at $33,000 after purchasing an additional 1,121 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Clearwater Analytics by 84.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 708 shares during the last quarter. Nvwm LLC purchased a new stake in shares of Clearwater Analytics in the 1st quarter valued at about $46,000. Quarry LP lifted its holdings in shares of Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock valued at $56,000 after purchasing an additional 1,900 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Clearwater Analytics by 714.6% in the 1st quarter. CWM LLC now owns 3,071 shares of the company’s stock valued at $82,000 after purchasing an additional 2,694 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 research reports. DA Davidson dropped their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Clearwater Analytics in a research note on Wednesday, September 17th. The Goldman Sachs Group raised Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Monday, August 11th. Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Analytics in a research note on Saturday, September 27th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

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.