Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CTO Souvik Das Sells 76,844 Shares

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CTO Souvik Das sold 76,844 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $2,310,699.08. Following the completion of the sale, the chief technology officer now owns 68,902 shares in the company, valued at $2,071,883.14. The trade was a 52.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock traded up $1.51 during trading on Friday, reaching $31.45. 1,373,123 shares of the stock traded hands, compared to its average volume of 2,291,453. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $35.71. The business has a fifty day simple moving average of $27.99 and a two-hundred day simple moving average of $27.05. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 7.43 and a beta of 0.72.

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

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after buying an additional 2,455,844 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after purchasing an additional 559,564 shares during the period. Alliancebernstein L.P. boosted its position in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after buying an additional 2,931,445 shares during the period. Conestoga Capital Advisors LLC boosted its position in Clearwater Analytics by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock valued at $171,156,000 after buying an additional 107,210 shares during the period. Finally, Wellington Management Group LLP boosted its position in Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after buying an additional 2,950,555 shares during the period. 50.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wells Fargo & Company upped their target price on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Morgan Stanley raised Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $34.00 in a research note on Friday, January 17th. Finally, UBS Group lifted their price target on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.60.

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.