Insider Selling: Clearwater Analytics (NYSE:CWAN) CTO Sells 10,000 Shares of Stock

Key Points

• Souvik Das, the CTO of Clearwater Analytics, sold 10,000 shares at an average price of $20.57 on September 8th, decreasing his total ownership by 7.60% to 121,549 shares.
• Clearwater Analytics announced a $100 million share repurchase plan, indicating the board believes the stock is undervalued.
• Analysts have a consensus price target of $32.67 for Clearwater Analytics, with several upgrades in recent reports reflecting a "Moderate Buy" rating.

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) CTO Souvik Das sold 10,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $20.57, for a total value of $205,700.00. Following the completion of the transaction, the chief technology officer directly owned 121,549 shares in the company, valued at approximately $2,500,262.93. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Souvik Das also recently made the following trade(s):

• On Wednesday, August 20th, Souvik Das sold 10,000 shares of Clearwater Analytics stock. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00.
• On Monday, June 30th, Souvik Das sold 5,273 shares of Clearwater Analytics stock. The stock was sold at an average price of $21.67, for a total transaction of $114,265.91.

Clearwater Analytics Stock Performance

Shares of CWAN traded down $0.10 during mid-day trading on Wednesday, hitting $20.18. The stock had a trading volume of 3,902,297 shares, compared to its average volume of 3,829,683. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.90 billion, a PE ratio of 126.69, a PEG ratio of 5.13 and a beta of 0.73. The company's fifty day simple moving average is $20.72 and its two-hundred day simple moving average is $23.12.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The business's revenue for the quarter was up 70.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. On average, equities analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CWAN shares. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Monday, August 11th. Oppenheimer cut their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. DA Davidson dropped their target price on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, Zacks Research upgraded Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $32.67.

Institutional Trading of Clearwater Analytics

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. boosted its stake in shares of Clearwater Analytics by 278.9% in the second 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 during the period. Bessemer Group Inc. raised its holdings in Clearwater Analytics by 84.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,545 shares of the company's stock valued at $35,000 after acquiring an additional 708 shares in the last quarter. Nvwm LLC bought a new stake in shares of Clearwater Analytics during the 1st quarter valued at $46,000. Quarry LP grew its holdings in shares of Clearwater Analytics by 979.4% during the 1st quarter. Quarry LP now owns 2,094 shares of the company's stock worth $56,000 after purchasing an additional 1,900 shares in the last quarter. Finally, CWM LLC increased 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 purchasing an additional 2,694 shares during the period. Institutional investors and hedge funds own 50.10% of the company's stock.

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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