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 Clearwater Analytics stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $94,181.36. Following the completion of the transaction, the chief technology officer owned 136,066 shares in the company, valued at approximately $2,405,646.88. The trade was a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

Clearwater Analytics Trading Down 1.5%

NYSE CWAN opened at $17.76 on Thursday. The firm has a market cap of $5.19 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 4.56 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.61 and a 1-year high of $35.71. The stock has a 50-day moving average of $19.71 and a 200-day moving average of $22.03. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $174.16 million. During the same period last year, the firm earned $0.10 earnings per share. Clearwater Analytics’s revenue for the quarter was up 70.4% on a year-over-year basis. As a group, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics announced that its board has approved a share buyback plan on Wednesday, September 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 1.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on CWAN. The Goldman Sachs Group raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday, August 11th. DA Davidson reduced their price target on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Oppenheimer dropped their price objective on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, June 11th. Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an “overweight” rating in a research note on Tuesday, June 24th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CWAN. Osaic Holdings Inc. grew its holdings in shares of Clearwater Analytics by 819.6% during the second quarter. Osaic Holdings Inc. now owns 7,256 shares of the company’s stock valued at $160,000 after buying an additional 6,467 shares during the last quarter. Cim LLC boosted its stake in Clearwater Analytics by 8.0% during the 2nd quarter. Cim LLC now owns 65,627 shares of the company’s stock valued at $1,439,000 after purchasing an additional 4,850 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Clearwater Analytics in the 2nd quarter worth $744,000. Ashford Capital Management Inc. raised its stake in shares of Clearwater Analytics by 63.9% in the second quarter. Ashford Capital Management Inc. now owns 915,444 shares of the company’s stock worth $20,076,000 after purchasing an additional 357,035 shares during the last quarter. Finally, FORA Capital LLC bought a new position in shares of Clearwater Analytics during the second quarter valued at $1,272,000. 50.10% of the stock is 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.