Insider Selling: Clearwater Analytics (NYSE:CWAN) CEO Sells 16,592 Shares of Stock

Key Points

• Sandeep Sahai, CEO of Clearwater Analytics, sold 16,592 shares of the company's stock at an average price of $17.68, resulting in a total transaction of approximately $293,347.
• Clearwater Analytics' stock has seen a decline of 1.5%, currently trading at $17.76, with a market capitalization of $5.19 billion.
• The company recently initiated a $100 million share buyback plan, indicating that its leadership believes the stock is undervalued.

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) CEO Sandeep Sahai sold 16,592 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $293,346.56. Following the completion of the transaction, the chief executive officer directly owned 913,600 shares in the company, valued at approximately $16,152,448. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sandeep Sahai also recently made the following trade(s):

• On Friday, August 22nd, Sandeep Sahai sold 46,962 shares of Clearwater Analytics stock. The stock was sold at an average price of $20.12, for a total value of $944,875.44.
• On Wednesday, August 20th, Sandeep Sahai sold 3,038 shares of Clearwater Analytics stock. The shares were sold at an average price of $20.01, for a total transaction of $60,790.38.
• On Monday, July 14th, Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00.

Clearwater Analytics Stock Down 1.5%

CWAN stock traded down $0.27 during midday trading on Wednesday, hitting $17.76. The company's stock had a trading volume of 4,367,728 shares, compared to its average volume of 4,463,715. The stock has a market capitalization of $5.19 billion, a P/E ratio of 112.62, a PEG ratio of 4.56 and a beta of 0.69. The company's fifty day moving average price is $19.71 and its 200 day moving average price is $22.03. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.61 and a twelve month high of $35.71. 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 (NYSE:CWAN - Get Free Report) last released 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). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The firm's revenue for the quarter was up 70.4% on a year-over-year basis. As a group, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics announced that its board has initiated 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 buy up to 1.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on CWAN shares. DA Davidson cut 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. Royal Bank Of Canada reiterated an "outperform" rating and set a $36.00 price objective on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Zacks Research raised shares of Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Oppenheimer dropped their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. Finally, Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and an average price target of $32.67.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in shares of Clearwater Analytics by 819.6% in the 2nd quarter. Osaic Holdings Inc. now owns 7,256 shares of the company's stock worth $160,000 after acquiring an additional 6,467 shares during the last quarter. Cim LLC lifted its holdings in shares of Clearwater Analytics by 8.0% in the 2nd quarter. Cim LLC now owns 65,627 shares of the company's stock worth $1,439,000 after acquiring an additional 4,850 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Clearwater Analytics in the 2nd quarter worth approximately $744,000. Ashford Capital Management Inc. lifted its holdings in shares of Clearwater Analytics by 63.9% in the 2nd quarter. Ashford Capital Management Inc. now owns 915,444 shares of the company's stock worth $20,076,000 after acquiring an additional 357,035 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Clearwater Analytics in the 2nd quarter worth approximately $1,272,000. 50.10% of the stock is currently owned by institutional investors.

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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