Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CEO Sandeep Sahai Sells 50,000 Shares

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.29, for a total value of $1,214,500.00. Following the transaction, the chief executive officer now directly owns 876,754 shares of the company’s stock, valued at $21,296,354.66. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Sandeep Sahai also recently made the following trade(s):

• On Monday, April 14th, Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock. The stock was sold at an average price of $23.09, for a total value of $1,154,500.00.
• On Thursday, March 13th, Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock. The stock was sold at an average price of $26.56, for a total value of $1,328,000.00.
• On Wednesday, February 19th, Sandeep Sahai sold 218,687 shares of Clearwater Analytics stock. The stock was sold at an average price of $30.07, for a total value of $6,575,918.09.
• On Thursday, February 13th, Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock. The stock was sold at an average price of $27.63, for a total value of $1,381,500.00.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $24.19 on Thursday. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $24.45 and its two-hundred day moving average is $27.36. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.63 and a 12-month high of $35.71. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 8.23 and a beta of 0.79.

Clearwater Analytics (NYSE:CWAN) last released its earnings results 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 company had revenue of $126.86 million for the quarter, compared to analysts’ expectations of $125.11 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. Research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock worth $623,001,000 after acquiring an additional 2,366,715 shares during the period. Alliancebernstein L.P. lifted its stake in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after buying an additional 2,931,445 shares in the last quarter. Wellington Management Group LLP lifted its stake in Clearwater Analytics by 7.7% in the 1st quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock valued at $171,866,000 after buying an additional 458,444 shares in the last quarter. Invesco Ltd. lifted its stake in Clearwater Analytics by 34.1% in the 1st quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock valued at $152,930,000 after buying an additional 1,452,474 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Clearwater Analytics by 52.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after buying an additional 1,585,869 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CWAN shares. Royal Bank of Canada lifted 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. Morgan Stanley reissued an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a report on Friday, April 25th. They issued an “overweight” rating and a $28.00 target price for the company. Piper Sandler reduced their target price on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Finally, UBS Group boosted their target price on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.00.

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.