Insider Selling: Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Insider Sells $2,375,900.40 in Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWANGet Free Report) insider Scott Stanley Erickson sold 118,204 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $20.10, for a total transaction of $2,375,900.40. Following the sale, the insider now owns 3,315 shares in the company, valued at $66,631.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Clearwater Analytics Price Performance

NYSE:CWAN opened at $19.76 on Thursday. The stock’s 50-day simple moving average is $17.93 and its 200 day simple moving average is $18.57. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.28 and a 52-week high of $21.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.59 and a current ratio of 5.59. The company has a market cap of $4.86 billion, a P/E ratio of -247.00, a P/E/G ratio of 7.86 and a beta of 0.58.

Clearwater Analytics (NYSE:CWANGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.25%. The firm had revenue of $102.70 million during the quarter, compared to analysts’ expectations of $100.55 million. During the same quarter last year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP increased its holdings in shares of Clearwater Analytics by 35.6% in the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after purchasing an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. grew its stake in Clearwater Analytics by 36.6% in the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock valued at $258,628,000 after buying an additional 3,461,158 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Clearwater Analytics by 42.5% in the 1st quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock valued at $183,344,000 after acquiring an additional 3,090,352 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Clearwater Analytics by 65.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after acquiring an additional 1,335,802 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of Clearwater Analytics by 30.8% during the first quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock worth $94,804,000 after acquiring an additional 1,262,150 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CWAN. JPMorgan Chase & Co. lowered their price objective on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $19.00 target price on shares of Clearwater Analytics in a report on Thursday, May 2nd. Piper Sandler restated a “neutral” rating and issued a $20.00 price target on shares of Clearwater Analytics in a report on Thursday, February 29th. Finally, Wells Fargo & Company dropped their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Clearwater Analytics currently has an average rating of “Moderate Buy” and a consensus target price of $21.70.

Read Our Latest Research Report on CWAN

About Clearwater Analytics

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Clearwater Analytics (NYSE:CWAN)

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