Insider Selling: Clearwater Analytics (NYSE:CWAN) CRO Sells 4,505 Shares of Stock

Key Points

• Clearwater Analytics CRO Scott Stanley Erickson sold 4,505 shares at an average price of $17.68, resulting in a total transaction of $79,648.40, and decreased his ownership in the company by 18.73%.
• The company's stock also saw a decline of 1.5%, trading at $17.76, alongside a market capitalization of $5.19 billion.
• Clearwater Analytics' Board of Directors has authorized a $100 million stock repurchase plan, indicating confidence in the company's value amidst market fluctuations.

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) CRO Scott Stanley Erickson sold 4,505 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $79,648.40. Following the completion of the sale, the executive directly owned 19,552 shares in the company, valued at approximately $345,679.36. This represents a 18.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Clearwater Analytics Stock Down 1.5%

Clearwater Analytics stock traded down $0.27 during midday trading on Wednesday, hitting $17.76. 4,367,728 shares of the company's stock were exchanged, compared to its average volume of 4,463,715. The company has a market cap of $5.19 billion, a PE ratio of 112.62, a P/E/G ratio of 4.56 and a beta of 0.69. The firm has a 50-day moving average of $19.71 and a two-hundred day moving average of $22.03. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.61 and a 12 month high of $35.71. 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 (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS 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 analysts' expectations of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. 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 business earned $0.10 earnings per share. As a group, analysts expect 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 initiated a stock repurchase plan on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently made changes to their positions in CWAN. Zevenbergen Capital Investments LLC boosted its position in shares of Clearwater Analytics by 48.6% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company's stock worth $24,373,000 after purchasing an additional 297,414 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Clearwater Analytics in the first quarter valued at about $314,000. Vanguard Group Inc. increased its position in Clearwater Analytics by 11.3% during the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock worth $623,001,000 after buying an additional 2,366,715 shares during the last quarter. Riverbridge Partners LLC bought a new stake in shares of Clearwater Analytics during the second quarter worth approximately $35,313,000. Finally, Yorktown Management & Research Co Inc bought a new stake in shares of Clearwater Analytics during the first quarter worth approximately $409,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CWAN. Zacks Research raised Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price target for the company in a research note on Monday, August 11th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $36.00 price objective on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Finally, Oppenheimer decreased their price target on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $32.67.

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.

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.