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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $20.11, but opened at $19.48. Clearwater Analytics shares last traded at $19.67, with a volume of 654,977 shares trading hands.

Specifically, insider Subi Sethi sold 18,599 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $19.46, for a total value of $361,936.54. Following the transaction, the insider now owns 77,519 shares of the company’s stock, valued at $1,508,519.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Subi Sethi sold 18,599 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the completion of the sale, the insider now owns 77,519 shares of the company’s stock, valued at $1,508,519.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott Stanley Erickson sold 118,204 shares of the company’s stock in a transaction dated 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 owns 3,315 shares in the company, valued at $66,631.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,143,079 shares of company stock valued at $140,833,984. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

Clearwater Analytics Stock Down 1.7 %

The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $17.93 and a two-hundred day moving average of $18.57. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of -247.00, a price-to-earnings-growth ratio of 7.86 and a beta of 0.58.

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

Institutional Trading of Clearwater Analytics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in shares of Clearwater Analytics by 33.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock valued at $49,000 after acquiring an additional 616 shares during the last quarter. Natixis Advisors L.P. boosted its stake in shares of Clearwater Analytics by 1.4% during the fourth quarter. Natixis Advisors L.P. now owns 44,198 shares of the company’s stock valued at $885,000 after purchasing an additional 616 shares in the last quarter. KLR Investment Advisors LLC grew its holdings in shares of Clearwater Analytics by 5.0% during the fourth quarter. KLR Investment Advisors LLC now owns 16,939 shares of the company’s stock worth $339,000 after purchasing an additional 801 shares during the last quarter. Eagle Bay Advisors LLC increased its stake in shares of Clearwater Analytics by 213.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock valued at $36,000 after buying an additional 1,207 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Clearwater Analytics by 268.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after buying an additional 1,234 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

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.