Clearwater Analytics (NYSE:CWAN) CEO Sandeep Sahai Sells 16,592 Shares

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CEO Sandeep Sahai sold 16,592 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $293,346.56. Following the completion of the sale, the chief executive officer owned 913,600 shares of the company’s stock, valued at $16,152,448. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sandeep Sahai also recently made the following trade(s):

• On Friday, August 22nd, Sandeep Sahai sold 46,962 shares of Clearwater Analytics stock. The stock was sold at an average price of $20.12, for a total transaction of $944,875.44.
• On Wednesday, August 20th, Sandeep Sahai sold 3,038 shares of Clearwater Analytics stock. The shares were sold at an average price of $20.01, for a total transaction of $60,790.38.
• On Monday, July 14th, Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00.

Clearwater Analytics Trading Down 1.5%

Shares of Clearwater Analytics stock opened at $17.76 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. The stock’s 50 day simple moving average is $19.71 and its 200-day simple moving average is $22.03. The stock has a market cap of $5.19 billion, a P/E ratio of 11.17, a P/E/G ratio of 4.56 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.61 and a 1-year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $181.94 million for the quarter, compared to analysts’ expectations of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The business’s quarterly revenue was up 70.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. Analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics announced that its board has initiated a stock buyback program on Wednesday, September 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 1.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CWAN. Zevenbergen Capital Investments LLC boosted its stake in shares of Clearwater Analytics by 48.6% during the first quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company’s stock worth $24,373,000 after buying an additional 297,414 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Clearwater Analytics during the 1st quarter valued at approximately $314,000. Vanguard Group Inc. lifted its position in Clearwater Analytics by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock worth $623,001,000 after acquiring an additional 2,366,715 shares during the period. Riverbridge Partners LLC purchased a new position in shares of Clearwater Analytics in the 2nd quarter valued at approximately $35,313,000. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of Clearwater Analytics in the first quarter valued at approximately $409,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CWAN has been the topic of several recent analyst reports. 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. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Clearwater Analytics in a research note on Wednesday, September 17th. DA Davidson dropped their price target on shares of Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Finally, The Goldman Sachs Group upgraded 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. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

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.