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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) shares gapped down prior to trading 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 changing hands.

Specifically, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 857,798 shares of the company’s stock, valued at approximately $22,783,114.88. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Scott Stanley Erickson sold 4,141 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the sale, the executive now directly owns 7,902 shares in the company, valued at $218,490.30. This represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CWAN shares. Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Oppenheimer upped their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Trading Down 1.6 %

The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm has a market cap of $6.65 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69. The firm’s 50-day simple moving average is $28.31 and its 200 day simple moving average is $27.75.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The business had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. As a group, analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after buying an additional 468 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Clearwater Analytics during the 4th quarter valued at about $57,000. R Squared Ltd bought a new position in Clearwater Analytics during the 4th quarter valued at about $80,000. Aster Capital Management DIFC Ltd bought a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $82,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after purchasing an additional 1,987 shares during the period. 50.10% of the stock is owned by hedge funds and other institutional investors.

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.