Clearwater Analytics (NYSE:CWAN) Shares Gap Down After Insider Selling

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $26.91, but opened at $26.35. Clearwater Analytics shares last traded at $26.48, with a volume of 724,125 shares trading hands.

Specifically, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $26.56, for a total value of $1,328,000.00. Following the completion of the sale, the chief executive officer now directly owns 857,798 shares of the company’s stock, valued at approximately $22,783,114.88. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Scott Stanley Erickson sold 4,141 shares of Clearwater Analytics stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.65, for a total value of $114,498.65. Following the sale, the executive now directly owns 7,902 shares in the company, valued at approximately $218,490.30. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of research analysts have recently commented on CWAN shares. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. UBS Group raised their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Oppenheimer lifted their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley restated an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.80.

Clearwater Analytics Trading Down 1.3 %

The stock has a market cap of $6.67 billion, a PE ratio of 16.00, a PEG ratio of 8.23 and a beta of 0.69. The stock’s fifty day moving average price is $28.30 and its 200 day moving average price is $27.76. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The firm had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. On average, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CWAN. Principal Financial Group Inc. lifted its holdings in shares of Clearwater Analytics by 348.3% in the third quarter. Principal Financial Group Inc. now owns 84,793 shares of the company’s stock worth $2,141,000 after buying an additional 65,878 shares in the last quarter. Atria Investments Inc increased its position in shares of Clearwater Analytics by 5.7% during the 3rd quarter. Atria Investments Inc now owns 36,653 shares of the company’s stock valued at $925,000 after purchasing an additional 1,971 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Clearwater Analytics in the third quarter valued at $360,000. Victory Capital Management Inc. lifted its stake in Clearwater Analytics by 12.7% in the third quarter. Victory Capital Management Inc. now owns 17,423 shares of the company’s stock worth $440,000 after purchasing an additional 1,964 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in Clearwater Analytics during the 3rd quarter valued at $835,000. Hedge funds and other institutional investors 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.