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 firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $22.25, for a total value of $1,112,500.00. Following the completion of the transaction, the chief executive officer now owns 876,754 shares in the company, valued at approximately $19,507,776.50. This represents a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, May 13th, Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock. The shares were sold at an average price of $24.29, for a total value of $1,214,500.00.
• On Monday, April 14th, Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock. The shares were sold at an average price of $23.09, for a total value of $1,154,500.00.

Clearwater Analytics Trading Up 0.2%

NYSE:CWAN opened at $22.15 on Tuesday. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.63 and a fifty-two week high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The stock has a market capitalization of $6.28 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 8.23 and a beta of 0.77. The business’s 50-day simple moving average is $23.04 and its 200-day simple moving average is $26.24.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, beating 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 business 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 business posted $0.10 EPS. Clearwater Analytics’s revenue for the quarter was up 23.5% on a year-over-year basis. Sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in shares of Clearwater Analytics by 1,600.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock valued at $39,690,000 after purchasing an additional 1,357,425 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Clearwater Analytics in the 4th quarter valued at approximately $8,580,000. Alliancebernstein L.P. raised its position 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 during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Clearwater Analytics in the 4th quarter valued at approximately $1,112,000. Finally, Bank of New York Mellon Corp raised its position in Clearwater Analytics by 46.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,040,188 shares of the company’s stock valued at $28,626,000 after buying an additional 328,542 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Analysts Set New Price Targets

CWAN has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada raised their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. UBS Group raised their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group initiated coverage on Clearwater Analytics in a report on Monday, May 19th. They set a “neutral” rating and a $26.00 target price on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a report on Friday, April 25th. They set an “overweight” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.