Souvik Das Sells 5,327 Shares of Clearwater Analytics (NYSE:CWAN) Stock

Key Points

• CTO Souvik Das sold 5,327 shares of Clearwater Analytics stock at an average price of $17.68, reducing his ownership by 3.77% to a total of 136,066 shares valued at approximately $2.4 million.
• Clearwater Analytics announced a $100 million stock repurchase plan on September 3rd, signaling management's belief that the stock is undervalued.
• Analysts have set a consensus price target of $32.67 for Clearwater Analytics, with several firms giving it a "Buy" or "Outperform" rating.

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) CTO Souvik Das sold 5,327 shares of the company's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $94,181.36. Following the transaction, the chief technology officer owned 136,066 shares in the company, valued at approximately $2,405,646.88. The trade was a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, September 8th, Souvik Das sold 10,000 shares of Clearwater Analytics stock. The shares were sold at an average price of $20.57, for a total transaction of $205,700.00.
• 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.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock traded down $0.27 on Wednesday, reaching $17.76. The stock had a trading volume of 4,367,728 shares, compared to its average volume of 4,463,715. The business's 50 day moving average is $19.71 and its two-hundred day moving average is $22.03. The company has a market cap of $5.19 billion, a P/E ratio of 112.62, a price-to-earnings-growth ratio of 4.56 and a beta of 0.69. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.61 and a 1 year high of $35.71.

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

Clearwater Analytics announced that its board has authorized 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 buy up to 1.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a report on Monday, August 11th. DA Davidson dropped their price target on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Oppenheimer lowered their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $36.00 price target on shares of Clearwater Analytics in a report on Wednesday, September 17th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $32.67.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CWAN. Vanguard Group Inc. grew its stake in shares of Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after purchasing an additional 2,366,715 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Clearwater Analytics by 3.0% in the second quarter. Wasatch Advisors LP now owns 9,567,391 shares of the company's stock valued at $209,813,000 after acquiring an additional 274,664 shares during the period. Wellington Management Group LLP boosted its position in Clearwater Analytics by 7.7% during the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company's stock worth $171,866,000 after purchasing an additional 458,444 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of Clearwater Analytics by 12.3% in the second quarter. Bamco Inc. NY now owns 6,094,715 shares of the company's stock worth $133,657,000 after acquiring an additional 665,823 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Clearwater Analytics by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 5,774,285 shares of the company's stock worth $126,630,000 after acquiring an additional 363,720 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company's stock.

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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