Clearwater Analytics (NYSE:CWAN) Stock Price Down 4.1%

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s stock price was down 4.1% during mid-day trading on Wednesday . The company traded as low as $17.98 and last traded at $17.99. Approximately 386,851 shares changed hands during trading, a decline of 73% from the average daily volume of 1,423,856 shares. The stock had previously closed at $18.75.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CWAN shares. Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a report on Monday. JPMorgan Chase & Co. decreased their target price on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company decreased 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, Morgan Stanley restated an “equal weight” rating and issued a $19.00 price target on shares of Clearwater Analytics in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Clearwater Analytics Stock Performance

The stock has a 50-day simple moving average of $18.87 and a 200-day simple moving average of $18.42. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of -236.50, a price-to-earnings-growth ratio of 6.96 and a beta of 0.57. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.11.

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

Insider Buying and Selling at Clearwater Analytics

In related news, 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 transaction of $361,936.54. Following the sale, the insider now directly owns 77,519 shares of the company’s stock, valued at approximately $1,508,519.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Warburg Pincus Llc sold 7,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total transaction of $137,970,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Subi Sethi sold 18,599 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the sale, the insider now directly owns 77,519 shares in the company, valued at $1,508,519.74. The disclosure for this sale can be found here. Insiders have sold a total of 7,193,079 shares of company stock valued at $141,831,984 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently made changes to their positions in CWAN. SG Americas Securities LLC acquired a new stake in Clearwater Analytics in the second quarter worth $355,000. Wellington Shields & Co. LLC acquired a new stake in Clearwater Analytics in the first quarter worth $177,000. Artal Group S.A. increased its position in Clearwater Analytics by 25.0% in the first quarter. Artal Group S.A. now owns 25,000 shares of the company’s stock worth $442,000 after buying an additional 5,000 shares during the period. Comerica Bank increased its position in Clearwater Analytics by 8.1% in the first quarter. Comerica Bank now owns 516,562 shares of the company’s stock worth $9,138,000 after buying an additional 38,537 shares during the period. Finally, Jane Street Group LLC increased its position in Clearwater Analytics by 234.2% in the first quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after buying an additional 186,273 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

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.