Insider Selling: Clearwater Analytics (NYSE:CWAN) CFO Sells 11,275 Shares of Stock

Key Points

• CFO James Cox sold 11,275 shares on December 15 at an average price of $21.41 for about $241,398, reducing his holding by 3.31% to 328,983 shares (SEC filing disclosed).
• Shares traded up ~2.1% to $21.95; last quarter revenue was $205.11 million, up 77.1% year‑over‑year, while EPS of $0.14 missed estimates and the company has a market cap of about $6.42 billion.
• The board approved a $100 million share buyback (up to ~1.7% of shares) and analysts hold a consensus "Moderate Buy" with an average target of $29.56.

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) CFO James Cox sold 11,275 shares of the firm's stock in a transaction on Monday, December 15th. The stock was sold at an average price of $21.41, for a total value of $241,397.75. Following the completion of the sale, the chief financial officer directly owned 328,983 shares of the company's stock, valued at approximately $7,043,526.03. This trade represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Clearwater Analytics Stock Up 2.1%

Shares of CWAN stock traded up $0.45 during trading on Wednesday, hitting $21.95. 395,564 shares of the company were exchanged, compared to its average volume of 4,019,796. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 1.97. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.73 and a twelve month high of $32.00. The business's 50-day simple moving average is $19.63 and its 200 day simple moving average is $20.32. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 5.60 and a beta of 0.67.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Clearwater Analytics had a return on equity of 2.77% and a net margin of 61.28%.The firm had revenue of $205.11 million during the quarter, compared to analyst estimates of $203.66 million. During the same period in the previous year, the company earned $0.14 earnings per share. The business's revenue for the quarter was up 77.1% on a year-over-year basis. As a group, analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics declared that its Board of Directors has approved a share buyback plan on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

CWAN has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of Clearwater Analytics from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, November 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Weiss Ratings reissued a "hold (c)" rating on shares of Clearwater Analytics in a research report on Monday. Zacks Research upgraded Clearwater Analytics from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. Finally, DA Davidson reaffirmed a "buy" rating and set a $30.00 price objective on shares of Clearwater Analytics in a research report on Wednesday, December 10th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $29.56.

Institutional Investors Weigh In On Clearwater Analytics

Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its stake in Clearwater Analytics by 278.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company's stock valued at $33,000 after buying an additional 1,121 shares in the last quarter. Bessemer Group Inc. boosted its position in Clearwater Analytics by 84.6% in the second quarter. Bessemer Group Inc. now owns 1,545 shares of the company's stock valued at $35,000 after buying an additional 708 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Clearwater Analytics by 189.3% during the third quarter. Versant Capital Management Inc now owns 1,565 shares of the company's stock worth $28,000 after buying an additional 1,024 shares in the last quarter. Essex Investment Management Co. LLC grew its position in Clearwater Analytics by 54.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 1,806 shares of the company's stock worth $33,000 after acquiring an additional 640 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Clearwater Analytics in the third quarter valued at $36,000. 50.10% of the stock is currently owned by institutional investors.

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.

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