Scott Stanley Erickson Sells 4,460 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) CRO Scott Stanley Erickson sold 4,460 shares of Clearwater Analytics stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $96,648.20. Following the completion of the sale, the executive owned 15,776 shares of the company's stock, valued at approximately $341,865.92. The trade was a 22.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Clearwater Analytics Stock Down 0.5%

Shares of CWAN stock traded down $0.12 during trading hours on Wednesday, reaching $21.77. The company had a trading volume of 2,957,846 shares, compared to its average volume of 2,532,839. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 4.39 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.09 and a quick ratio of 5.09. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.63 and a 12 month high of $35.71. The business has a fifty day simple moving average of $22.80 and a 200-day simple moving average of $25.66.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The company had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. During the same period last year, the business posted $0.10 earnings per share. Clearwater Analytics's revenue was up 23.5% on a year-over-year basis. On average, research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearwater Analytics

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Clearwater Analytics by 46.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,040,188 shares of the company's stock worth $28,626,000 after buying an additional 328,542 shares during the last quarter. Amalgamated Bank increased its stake in shares of Clearwater Analytics by 25.9% during the 4th quarter. Amalgamated Bank now owns 6,098 shares of the company's stock worth $168,000 after purchasing an additional 1,254 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Clearwater Analytics by 3.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company's stock worth $469,000 after purchasing an additional 502 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Clearwater Analytics by 28.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,660,566 shares of the company's stock worth $45,699,000 after purchasing an additional 365,153 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Clearwater Analytics by 26.3% in the 4th quarter. Victory Capital Management Inc. now owns 22,001 shares of the company's stock worth $605,000 after purchasing an additional 4,578 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CWAN. Wells Fargo & Company dropped their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. assumed coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 price objective on the stock. Piper Sandler set a $27.00 price objective on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. The Goldman Sachs Group assumed coverage on Clearwater Analytics in a research note on Monday, May 19th. They issued a "neutral" rating and a $26.00 target price for the company. Finally, Oppenheimer cut their price target on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.90.

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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