Dynamic Technology Lab Private Ltd Acquires 12,365 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Dynamic Technology Lab Private Ltd increased its holdings in Clearwater Analytics by 43%, acquiring an additional 12,365 shares, bringing their total to 41,146 shares valued at approximately $1.1 million.
• Recent insider trading includes CFO James S. Cox selling 11,275 shares and CEO Sandeep Sahai selling 46,962 shares, marking a reduction in their positions.
• Clearwater Analytics' Board of Directors launched a $100 million stock repurchase plan, indicating confidence in the company's valuation.

Dynamic Technology Lab Private Ltd increased its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 43.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,146 shares of the company's stock after acquiring an additional 12,365 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Clearwater Analytics were worth $1,103,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nvwm LLC acquired a new stake in shares of Clearwater Analytics in the first quarter worth $46,000. Quarry LP boosted its position in shares of Clearwater Analytics by 979.4% in the first quarter. Quarry LP now owns 2,094 shares of the company's stock worth $56,000 after buying an additional 1,900 shares during the period. CWM LLC boosted its position in shares of Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company's stock worth $82,000 after buying an additional 2,694 shares during the period. Portside Wealth Group LLC acquired a new stake in shares of Clearwater Analytics in the first quarter worth $206,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Clearwater Analytics in the first quarter worth $208,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Stock Down 1.5%

NYSE CWAN traded down $0.29 during trading on Friday, hitting $19.61. 3,070,687 shares of the company traded hands, compared to its average volume of 3,829,677. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71. The business has a fifty day simple moving average of $20.60 and a 200 day simple moving average of $22.92. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $5.73 billion, a P/E ratio of 12.33, a PEG ratio of 5.04 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its 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). Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The company had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. During the same quarter last year, the business earned $0.10 earnings per share. Clearwater Analytics's quarterly revenue was up 70.4% on a year-over-year basis. As a group, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics declared that its board has approved a share repurchase program on Wednesday, September 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

CWAN has been the subject of several recent analyst reports. The Goldman Sachs Group raised 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. Oppenheimer decreased their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. DA Davidson decreased their target price on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Zacks Research raised Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Finally, Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

Insider Buying and Selling

In other Clearwater Analytics news, CTO Souvik Das sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the chief technology officer directly owned 132,549 shares in the company, valued at $2,650,980. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the transaction, the chief executive officer owned 895,663 shares in the company, valued at $19,838,935.45. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,748 shares of company stock valued at $4,848,614 in the last three months. 3.31% of the stock is currently owned by corporate insiders.

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.