DiNuzzo Private Wealth Inc. Buys Shares of 57,000 Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• DiNuzzo Private Wealth Inc. has purchased 57,000 shares of Clearwater Analytics Holdings, Inc., valued at approximately $1.25 million, marking a significant new investment in the company.
• CTO Souvik Das and CFO James S. Cox both sold shares recently, indicating a decrease in insider ownership, with a combined total of nearly 20,000 shares sold for over $425,000.
• Clearwater Analytics reported a net margin of 73.74% for the last quarter, despite missing earnings expectations, with revenues rising 70.4% year over year.

DiNuzzo Private Wealth Inc. bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 57,000 shares of the company's stock, valued at approximately $1,250,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Nvwm LLC acquired a new position in shares of Clearwater Analytics during the first quarter valued at $46,000. Quarry LP boosted its holdings in shares of Clearwater Analytics by 979.4% during the first quarter. Quarry LP now owns 2,094 shares of the company's stock valued at $56,000 after acquiring an additional 1,900 shares during the period. CWM LLC boosted 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 valued at $82,000 after acquiring an additional 2,694 shares during the period. Portside Wealth Group LLC acquired a new position in shares of Clearwater Analytics during the first quarter valued at $206,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Clearwater Analytics during the first quarter valued at $208,000. Institutional investors own 50.10% of the company's stock.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CTO Souvik Das sold 10,000 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $20.57, for a total value of $205,700.00. Following the completion of the sale, the chief technology officer directly owned 121,549 shares of the company's stock, valued at approximately $2,500,262.93. This represents a 7.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 11,275 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.51, for a total transaction of $219,975.25. Following the completion of the sale, the chief financial officer directly owned 338,964 shares of the company's stock, valued at $6,613,187.64. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 179,950 shares of company stock valued at $3,799,302. 3.31% of the stock is owned by insiders.

Clearwater Analytics Stock Performance

CWAN stock opened at $18.23 on Tuesday. The company has a market capitalization of $5.33 billion, a P/E ratio of 11.46, a PEG ratio of 4.58 and a beta of 0.73. The company has a 50-day simple moving average of $19.85 and a 200 day simple moving average of $22.08. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data 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 during 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 business's revenue for the quarter was up 70.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. Sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

CWAN has been the subject of several analyst reports. Zacks Research raised shares of Clearwater Analytics from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $36.00 price target on shares of Clearwater Analytics in a report on Wednesday, September 17th. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. DA Davidson reduced their price target on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Finally, Oppenheimer reduced their price target 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. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Clearwater Analytics currently has an average rating of "Moderate Buy" and a consensus price target of $32.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.