Axiom Investors LLC DE Sells 262,075 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Axiom Investors LLC DE reduced its stake in Clearwater Analytics by 35.1%, selling 262,075 shares and retaining 483,725 shares valued at approximately $12.96 million.
• The company's CFO and CTO both recently sold shares, with the CFO's sale resulting in a 3.17% decrease in their ownership and the CTO a 7.02% reduction.
• Clearwater Analytics has announced a $100 million share repurchase program which indicates management believes the shares are undervalued.

Axiom Investors LLC DE trimmed its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 35.1% in the 1st quarter, according to the company in its most recent filing with the Securities and 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 0.17% of Clearwater Analytics worth $12,964,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Caxton Associates LLP bought a new position in shares of Clearwater Analytics in the 1st quarter worth $341,000. Sciencast Management LP raised its position in shares of Clearwater Analytics by 72.2% in the 1st quarter. Sciencast Management LP now owns 87,074 shares of the company's stock worth $2,334,000 after acquiring an additional 36,510 shares in the last quarter. Redwood Investments LLC raised its position in shares of Clearwater Analytics by 0.8% in the 1st quarter. Redwood Investments LLC now owns 74,651 shares of the company's stock worth $2,001,000 after acquiring an additional 608 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Clearwater Analytics by 43.0% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 41,146 shares of the company's stock worth $1,103,000 after acquiring an additional 12,365 shares in the last quarter. Finally, Petrus Trust Company LTA raised its position in shares of Clearwater Analytics by 15.4% in the 1st quarter. Petrus Trust Company LTA now owns 16,465 shares of the company's stock worth $441,000 after acquiring an additional 2,202 shares in the last quarter. 50.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 11,275 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $19.42, for a total value of $218,960.50. Following the sale, the chief financial officer owned 343,964 shares in the company, valued at $6,679,780.88. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Souvik Das sold 10,000 shares of the company's stock in a transaction dated 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 sale, the chief technology officer owned 132,549 shares in the company, valued at $2,650,980. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,748 shares of company stock worth $5,755,414. 3.31% of the stock is currently owned by insiders.

Clearwater Analytics Stock Up 2.9%

Clearwater Analytics stock opened at $20.75 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. The business's 50-day simple moving average is $20.82 and its two-hundred day simple moving average is $23.23. The company has a market cap of $6.07 billion, a PE ratio of 13.05, a PEG ratio of 5.26 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted 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 firm had revenue of $181.94 million for 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%. The firm's revenue for the quarter was up 70.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. Equities analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics announced that its Board of Directors has approved a share 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

CWAN has been the subject of several recent research reports. Zacks Research raised Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday. The Goldman Sachs Group raised Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a research report on Monday, August 11th. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. DA Davidson reduced their target price 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. Finally, Oppenheimer reduced their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 11th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.67.

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.

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