Clearwater Analytics (NYSE:CWAN) Shares Gap Down After Insider Selling

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s share price gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $26.91, but opened at $26.35. Clearwater Analytics shares last traded at $26.48, with a volume of 724,125 shares changing hands.

Specifically, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $26.56, for a total value of $1,328,000.00. Following the transaction, the chief executive officer now owns 857,798 shares in the company, valued at $22,783,114.88. This represents a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Scott Stanley Erickson sold 4,141 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.65, for a total transaction of $114,498.65. Following the sale, the executive now owns 7,902 shares in the company, valued at approximately $218,490.30. The trade was a 34.39 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of equities research analysts have commented on CWAN shares. Morgan Stanley restated an “overweight” rating and set a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Wells Fargo & Company boosted their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Oppenheimer boosted their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Price Performance

The firm has a market capitalization of $6.65 billion, a P/E ratio of 15.92, a P/E/G ratio of 8.23 and a beta of 0.69. 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’s fifty day simple moving average is $28.31 and its 200 day simple moving average is $27.75.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. On average, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Clearwater Analytics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after buying an additional 2,455,844 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after buying an additional 559,564 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Clearwater Analytics by 66.0% during 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 in the last quarter. Wellington Management Group LLP lifted its position in shares of Clearwater Analytics by 98.2% during the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after buying an additional 2,950,555 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Clearwater Analytics by 52.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after purchasing an additional 1,585,869 shares in the last quarter. Institutional investors and hedge funds 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.