Insider Selling: Clearwater Analytics (NYSE:CWAN) Insider Sells 7,434 Shares of Stock

Key Points

• Subi Sethi, an insider at Clearwater Analytics, sold 7,434 shares at an average price of $17.68, reducing their position by 3.17% to 226,980 shares.
• Clearwater Analytics is planning a share repurchase of up to $100 million, which indicates the board's belief that the stock is undervalued.
• Research analysts have updated their price targets, with recommendations ranging from $27.00 to $36.00, reflecting a general sentiment of moderate buy for the stock.

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) insider Subi Sethi sold 7,434 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 value of $131,433.12. Following the completion of the sale, the insider owned 226,980 shares in the company, valued at approximately $4,013,006.40. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Clearwater Analytics Stock Performance

CWAN traded down $0.27 during trading hours on Wednesday, reaching $17.76. The company's stock had a trading volume of 4,367,728 shares, compared to its average volume of 4,463,715. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.61 and a 52 week high of $35.71. The company's 50-day moving average is $19.71 and its 200-day moving average is $22.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market cap of $5.19 billion, a PE ratio of 112.62, a price-to-earnings-growth ratio of 4.56 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share 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 the consensus estimate of $174.16 million. During the same quarter last year, the company posted $0.10 EPS. The firm's revenue was up 70.4% on a year-over-year basis. On average, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. DA Davidson decreased their price objective on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. 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 report on Monday, August 11th. Oppenheimer decreased their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $36.00 target price on shares of Clearwater Analytics in a report on Wednesday, September 17th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics presently has an average rating of "Moderate Buy" and an average target price of $32.67.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds have recently added to or reduced their stakes in CWAN. First Horizon Advisors Inc. grew its stake in 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 acquiring an additional 1,121 shares during the period. Bessemer Group Inc. boosted its position in shares of Clearwater Analytics by 84.6% during 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 during the last quarter. Nvwm LLC purchased a new position in shares of Clearwater Analytics during the first quarter valued at approximately $46,000. Quarry LP lifted its holdings in Clearwater Analytics by 979.4% during the first quarter. Quarry LP now owns 2,094 shares of the company's stock worth $56,000 after acquiring an additional 1,900 shares during the period. Finally, CWM LLC lifted its holdings in Clearwater Analytics by 714.6% during the first quarter. CWM LLC now owns 3,071 shares of the company's stock worth $82,000 after acquiring 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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