Clearwater Analytics Holdings, Inc. $CWAN Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC lowered its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 330,633 shares of the company’s stock after selling 14,137 shares during the quarter. Summit Creek Advisors LLC’s holdings in Clearwater Analytics were worth $7,251,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its position in shares of Clearwater Analytics by 278.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock worth $33,000 after purchasing an additional 1,121 shares during the period. Bessemer Group Inc. boosted its position in shares of Clearwater Analytics by 84.6% during the second quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 708 shares during the period. Nvwm LLC acquired a new stake in shares of Clearwater Analytics in the first quarter valued at $46,000. Quarry LP raised its holdings in shares of Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock valued at $56,000 after buying an additional 1,900 shares during the period. Finally, CWM LLC lifted its stake in Clearwater Analytics by 714.6% during the 1st quarter. CWM LLC now owns 3,071 shares of the company’s stock worth $82,000 after acquiring an additional 2,694 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Analytics Stock Down 0.1%

Clearwater Analytics stock opened at $17.35 on Thursday. The company has a market capitalization of $5.07 billion, a P/E ratio of 10.91, a PEG ratio of 4.76 and a beta of 0.69. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $35.71. The stock has a 50-day simple moving average of $18.77 and a 200-day simple moving average of $20.81.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data 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). The firm 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 quarter in the prior year, the firm posted $0.10 EPS. Equities research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics declared that its board has authorized a share buyback program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CWAN. DA Davidson reduced their price target on shares of Clearwater Analytics from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, August 11th. Wall Street Zen cut Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $36.00 price target on shares of Clearwater Analytics in a report on Wednesday, September 17th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.22.

Insider Transactions at Clearwater Analytics

In other news, CTO Souvik Das sold 5,327 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $94,181.36. Following the completion of the sale, the chief technology officer owned 136,066 shares in the company, valued at approximately $2,405,646.88. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 4,505 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $79,648.40. Following the completion of the transaction, the executive owned 19,552 shares in the company, valued at $345,679.36. This trade represents a 18.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 143,602 shares of company stock worth $2,756,283 over the last 90 days. Company insiders own 3.31% 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.