Insider Selling: Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Insider Sells 118,204 Shares of Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) insider Scott Stanley Erickson sold 118,204 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $20.10, for a total transaction of $2,375,900.40. Following the completion of the transaction, the insider now directly owns 3,315 shares of the company’s stock, valued at approximately $66,631.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Clearwater Analytics Stock Performance

CWAN remained flat at $20.11 on Monday. 1,152,870 shares of the company were exchanged, compared to its average volume of 1,190,443. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.28 and a 12-month high of $21.89. The company’s fifty day simple moving average is $17.77 and its 200 day simple moving average is $18.58. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.94 billion, a P/E ratio of -253.13, a price-to-earnings-growth ratio of 7.86 and a beta of 0.58.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $102.70 million during the quarter, compared to the consensus estimate of $100.55 million. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS. Sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CWAN shares. Piper Sandler reiterated a “neutral” rating and issued a $20.00 price target on shares of Clearwater Analytics in a report on Thursday, February 29th. Morgan Stanley reiterated an “equal weight” rating and set a $19.00 target price on shares of Clearwater Analytics in a research report on Thursday, May 2nd. Wells Fargo & Company lowered their price target on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.70.

Institutional Investors Weigh In On Clearwater Analytics

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its holdings in Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after purchasing an additional 1,234 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Clearwater Analytics by 389.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after purchasing an additional 1,549 shares during the last quarter. Eagle Bay Advisors LLC raised its position in shares of Clearwater Analytics by 213.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,207 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Clearwater Analytics by 33.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock valued at $49,000 after buying an additional 616 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Clearwater Analytics during the fourth quarter worth approximately $90,000. 50.10% of the stock is currently 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.