Insider Selling: Clearwater Analytics (NYSE:CWAN) CTO Sells $94,181.36 in Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CTO Souvik Das sold 5,327 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $94,181.36. Following the transaction, the chief technology officer owned 136,066 shares of the company’s stock, valued at $2,405,646.88. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $205,700.00.
• On Wednesday, August 20th, Souvik Das sold 10,000 shares of Clearwater Analytics stock. The shares were sold at an average price of $20.00, for a total value of $200,000.00.

Clearwater Analytics Trading Down 0.3%

Clearwater Analytics stock 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 one year low of $17.41 and a one year high of $35.71. The stock 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 business’s fifty day moving average is $19.57 and its 200 day moving average is $21.90.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate 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 period last year, the business earned $0.10 earnings per share. The company’s quarterly revenue was up 70.4% on a year-over-year basis. On average, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics declared that its board has approved a stock repurchase program on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

CWAN has been the topic of several recent research reports. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an “overweight” rating in a research note on Tuesday, June 24th. Oppenheimer decreased their price objective 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. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Analytics in a research note on Saturday, September 27th. DA Davidson decreased their target price on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Finally, Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Hedge Funds Weigh In On Clearwater Analytics

A number of large investors have recently bought and sold shares of CWAN. Norges Bank acquired a new stake in Clearwater Analytics during the second quarter worth about $106,504,000. Hood River Capital Management LLC acquired a new stake in Clearwater Analytics during the second quarter worth about $99,105,000. Vanguard Group Inc. grew its holdings in Clearwater Analytics by 11.3% during the first 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. Fuller & Thaler Asset Management Inc. acquired a new stake in Clearwater Analytics during the first quarter worth about $56,648,000. Finally, Nuveen LLC acquired a new stake in Clearwater Analytics during the first quarter worth about $53,894,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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.