Osterweis Capital Management Inc. Sells 15,365 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Osterweis Capital Management Inc. has reduced its stake in Clearwater Analytics Holdings, Inc. by 4.4%, selling 15,365 shares, leaving it with approximately 336,195 shares valued at $9 million.
• Insider trading activity includes CEO Sandeep Sahai and CFO James S. Cox selling significant amounts of stock, indicating a 4.98% and 3.17% decrease in their ownership, respectively.
• Clearwater Analytics announced a stock repurchase program allowing for the buyback of up to $100 million worth of shares, perceived as a sign of the company's belief that its stock is undervalued.

Osterweis Capital Management Inc. decreased its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 336,195 shares of the company's stock after selling 15,365 shares during the quarter. Osterweis Capital Management Inc. owned approximately 0.12% of Clearwater Analytics worth $9,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Apollon Wealth Management LLC grew its position in shares of Clearwater Analytics by 3.9% during the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock worth $331,000 after buying an additional 459 shares in the last quarter. Huntleigh Advisors Inc. grew its position in shares of Clearwater Analytics by 1.9% during the 1st quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock worth $863,000 after buying an additional 595 shares in the last quarter. Redwood Investments LLC grew its position in shares of Clearwater Analytics by 0.8% during the 1st quarter. Redwood Investments LLC now owns 74,651 shares of the company's stock worth $2,001,000 after buying an additional 608 shares in the last quarter. Abacus FCF Advisors LLC grew its position in shares of Clearwater Analytics by 2.8% during the 1st quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock worth $674,000 after buying an additional 682 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Clearwater Analytics by 7.3% during the 1st quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock worth $311,000 after buying an additional 793 shares in the last quarter. Institutional investors own 50.10% of the company's stock.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 46,962 shares of the stock in a transaction dated 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 in the company, valued at approximately $18,020,739.56. This trade represents a 4.98% decrease in their ownership of the stock. 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 dated 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 owned 343,964 shares of the company's stock, valued at approximately $6,679,780.88. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,748 shares of company stock worth $4,848,614. 3.31% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Zacks Research raised Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. DA Davidson dropped their price objective 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. The Goldman Sachs Group raised Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective on the stock in a research report on Monday, August 11th. Oppenheimer dropped their price objective 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. 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 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, the company has an average rating of "Moderate Buy" and a consensus target price of $32.67.

Clearwater Analytics Trading Down 1.1%

Clearwater Analytics stock opened at $19.90 on Friday. The stock has a 50-day moving average of $20.66 and a two-hundred day moving average of $23.04. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. Clearwater Analytics Holdings, Inc. has a one year low of $17.98 and a one year high of $35.71. The stock has a market cap of $5.82 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 5.09 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). Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business had revenue of $181.94 million during the quarter, compared to analysts' expectations of $174.16 million. During the same quarter last year, the business posted $0.10 earnings per share. The company's quarterly revenue was up 70.4% compared to the same quarter last year. On average, research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

About Clearwater Analytics

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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