Insider Selling: Clearwater Analytics (NYSE:CWAN) Insider Sells $131,433.12 in Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) insider Subi Sethi sold 7,434 shares of Clearwater Analytics stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $131,433.12. Following the sale, the insider directly owned 226,980 shares in the company, valued at $4,013,006.40. The trade was a 3.17% 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 Stock Down 0.3%

Shares of Clearwater Analytics stock opened at $17.54 on Friday. The stock’s fifty day moving average is $19.57 and its 200-day moving average is $21.90. The firm has a market capitalization 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 company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.41 and a 12-month high of $35.71.

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

Clearwater Analytics declared that its Board of Directors has authorized a share repurchase plan on Wednesday, September 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CWAN shares. DA Davidson lowered 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of Clearwater Analytics in a report on Saturday, September 27th. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the company an “overweight” rating in a report on Tuesday, June 24th. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Monday, August 11th. Finally, Oppenheimer lowered their target price on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 11th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Institutional Investors Weigh In On Clearwater Analytics

A number of large investors have recently bought and sold shares of the business. Zevenbergen Capital Investments LLC boosted its position in Clearwater Analytics by 48.6% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company’s stock valued at $24,373,000 after buying an additional 297,414 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Clearwater Analytics in the 1st quarter valued at $314,000. Riverbridge Partners LLC acquired a new stake in shares of Clearwater Analytics in the 2nd quarter valued at $35,313,000. Vanguard Group Inc. increased its stake 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 valued at $623,001,000 after buying an additional 2,366,715 shares during the period. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Clearwater Analytics in the 1st quarter valued at $409,000. 50.10% of the stock is currently owned by 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.