Insider Selling: Clearwater Analytics (NYSE:CWAN) CRO Sells 4,505 Shares of Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CRO Scott Stanley Erickson sold 4,505 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $79,648.40. Following the completion of the transaction, the executive owned 19,552 shares in the company, valued at $345,679.36. The trade was a 18.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Clearwater Analytics Stock Down 0.3%

Shares of CWAN opened at $17.54 on Friday. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.41 and a 52-week high of $35.71. The company has a market capitalization of $5.13 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 4.45 and a beta of 0.69. The stock has a fifty day simple moving average of $19.57 and a two-hundred day simple moving average of $21.90. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. During the same period last year, the business earned $0.10 earnings per share. The firm’s revenue was up 70.4% compared to the same quarter last year. As a group, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics announced that its Board of Directors has initiated a share repurchase program on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CWAN. Oppenheimer cut their target price on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, June 11th. The Goldman Sachs Group raised Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, August 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Clearwater Analytics in a research report on Wednesday, September 17th. DA Davidson cut their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Finally, Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Hedge Funds Weigh In On Clearwater Analytics

Several institutional investors have recently bought and sold shares of CWAN. Norges Bank acquired a new position in Clearwater Analytics in the 2nd quarter valued at about $106,504,000. Hood River Capital Management LLC acquired a new position in Clearwater Analytics in the 2nd quarter valued at about $99,105,000. Vanguard Group Inc. grew its position in Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after acquiring an additional 2,366,715 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Clearwater Analytics in the 1st quarter valued at about $56,648,000. Finally, Nuveen LLC acquired a new position in Clearwater Analytics in the 1st quarter valued at about $53,894,000. 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.