Clearwater Analytics Holdings, Inc. $CWAN Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE reduced its stake in Clearwater Analytics Holdings, Inc. by 35.1%, now holding 483,725 shares valued at approximately $12.96 million.
• The company reported quarterly revenues of $181.94 million, a significant year-over-year increase of 70.4%, but missed earnings expectations with $0.12 earnings per share.
• Analysts maintain a mainly positive outlook on Clearwater Analytics, with an average price target of $32.67 and nine analysts rating the stock as a Buy.

Axiom Investors LLC DE trimmed its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 35.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 483,725 shares of the company's stock after selling 262,075 shares during the period. Axiom Investors LLC DE owned approximately 0.17% of Clearwater Analytics worth $12,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CWAN. Apollon Wealth Management LLC lifted its stake in shares of Clearwater Analytics by 3.9% during the first quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock worth $331,000 after buying an additional 459 shares during the period. Huntleigh Advisors Inc. lifted its stake in shares of Clearwater Analytics by 1.9% during the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock worth $863,000 after buying an additional 595 shares during the period. Abacus FCF Advisors LLC lifted its stake in shares of Clearwater Analytics by 2.8% during the first quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock worth $674,000 after buying an additional 682 shares during the period. Cerity Partners LLC lifted its stake in shares of Clearwater Analytics by 7.3% during the first quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock worth $311,000 after buying an additional 793 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Clearwater Analytics by 2.2% during the first quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company's stock worth $1,107,000 after buying an additional 900 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Souvik Das sold 10,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the chief technology officer directly owned 132,549 shares of the company's stock, valued at approximately $2,650,980. This represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 46,962 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $20.12, for a total transaction of $944,875.44. Following the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at $18,020,739.56. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 266,748 shares of company stock worth $5,755,414. 3.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler set a $27.00 price objective on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Oppenheimer reduced their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a research report on Monday, August 11th. Finally, DA Davidson cut their price target on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $32.67.

Clearwater Analytics Stock Performance

CWAN traded up $0.29 on Thursday, reaching $20.53. The stock had a trading volume of 3,871,304 shares, compared to its average volume of 3,418,242. The business's 50-day moving average price is $21.02 and its two-hundred day moving average price is $23.65. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.98 and a 12-month high of $35.71. The company has a market cap of $6.00 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 4.70 and a beta of 0.73. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm's revenue for the quarter was up 70.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. Sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics 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.