Insider Selling: Clearwater Analytics (NYSE:CWAN) CEO Sells $293,346.56 in Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CEO Sandeep Sahai sold 16,592 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 value of $293,346.56. Following the transaction, the chief executive officer directly owned 913,600 shares of the company’s stock, valued at $16,152,448. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, August 22nd, Sandeep Sahai sold 46,962 shares of Clearwater Analytics stock. The shares were sold at an average price of $20.12, for a total transaction of $944,875.44.
• On Wednesday, August 20th, Sandeep Sahai sold 3,038 shares of Clearwater Analytics stock. The stock was sold at an average price of $20.01, for a total transaction of $60,790.38.
• On Monday, July 14th, Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00.

Clearwater Analytics Trading Down 0.3%

Shares of CWAN opened at $17.54 on Friday. 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 Holdings, Inc. has a 1-year low of $17.41 and a 1-year high of $35.71. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 4.45 and a beta of 0.69. The firm has a 50 day simple moving average of $19.57 and a 200-day simple moving average of $21.90.

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

Clearwater Analytics announced that its board has approved a share repurchase plan on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its position in shares of Clearwater Analytics by 3.9% during the first quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company’s stock worth $331,000 after purchasing an additional 459 shares during the last quarter. Huntleigh Advisors Inc. lifted its holdings in Clearwater Analytics by 1.9% during the 1st quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company’s stock worth $863,000 after buying an additional 595 shares during the last quarter. Redwood Investments LLC grew its position in shares of Clearwater Analytics by 0.8% in the 1st quarter. Redwood Investments LLC now owns 74,651 shares of the company’s stock worth $2,001,000 after acquiring an additional 608 shares in the last quarter. Abacus FCF Advisors LLC increased its holdings in shares of Clearwater Analytics by 2.8% in the 1st quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company’s stock valued at $674,000 after acquiring an additional 682 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Clearwater Analytics by 84.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after acquiring an additional 708 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CWAN shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Analytics in a research note on Saturday, September 27th. Oppenheimer reduced their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 11th. Royal Bank Of Canada restated an “outperform” rating and set a $36.00 target price on shares of Clearwater Analytics in a research report on Wednesday, September 17th. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, August 11th. Finally, Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

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.