Jump Financial LLC Decreases Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Jump Financial LLC reduced its stake in Clearwater Analytics by 24.7%, selling 96,670 shares to end up with 294,246 shares valued at approximately $7.89 million.
• Clearwater Analytics reported a year-over-year revenue increase of 70.4%, with earnings per share of $0.12 for the quarter, which fell short of analysts' expectations.
• Research analysts currently have a consensus rating of "Buy" on Clearwater Analytics stock, with a consensus price target of $32.67.

Jump Financial LLC decreased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 294,246 shares of the company's stock after selling 96,670 shares during the quarter. Jump Financial LLC owned 0.10% of Clearwater Analytics worth $7,886,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nvwm LLC bought a new stake in shares of Clearwater Analytics during the first quarter worth about $46,000. CWM LLC grew its holdings in shares of Clearwater Analytics by 714.6% during the first quarter. CWM LLC now owns 3,071 shares of the company's stock worth $82,000 after purchasing an additional 2,694 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in Clearwater Analytics in the fourth quarter valued at approximately $121,000. Portside Wealth Group LLC bought a new stake in Clearwater Analytics in the first quarter valued at approximately $206,000. Finally, Norden Group LLC bought a new stake in Clearwater Analytics in the first quarter valued at approximately $232,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Analyst Ratings Changes

CWAN has been the topic of several analyst reports. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Monday, August 11th. 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 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 report on Wednesday, June 11th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $32.67.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 46,962 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $20.12, for a total value of $944,875.44. Following the completion of the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at approximately $18,020,739.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James S. Cox sold 11,275 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $19.42, for a total value of $218,960.50. Following the completion of the sale, the chief financial officer directly owned 343,964 shares of the company's stock, valued at $6,679,780.88. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 266,748 shares of company stock valued at $5,755,414. 3.31% of the stock is owned by insiders.

Clearwater Analytics Stock Up 1.4%

Shares of NYSE:CWAN traded up $0.29 during trading on Thursday, reaching $20.53. 3,871,406 shares of the stock were exchanged, compared to its average volume of 3,420,032. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.98 and a 1-year high of $35.71. The stock has a fifty day moving average of $21.02 and a two-hundred day moving average of $23.65. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 4.70 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The company 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%. The company's quarterly revenue was up 70.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. Research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics Company 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.