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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) shares gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $26.91, but opened at $26.35. Clearwater Analytics shares last traded at $26.48, with a volume of 724,125 shares trading hands.

Specifically, CEO Sandeep Sahai sold 50,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $26.56, for a total transaction of $1,328,000.00. Following the sale, the chief executive officer now owns 857,798 shares in the company, valued at $22,783,114.88. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Scott Stanley Erickson sold 4,141 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.65, for a total value of $114,498.65. Following the completion of the transaction, the executive now owns 7,902 shares of the company's stock, valued at $218,490.30. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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Analyst Upgrades and Downgrades

CWAN has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. UBS Group boosted their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Morgan Stanley reaffirmed an "overweight" rating and set a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. DA Davidson upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their target price on Clearwater Analytics from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Clearwater Analytics has an average rating of "Moderate Buy" and a consensus price target of $33.80.

Clearwater Analytics Trading Down 0.6 %

The firm has a fifty day moving average of $28.27 and a 200-day moving average of $27.76. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 8.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). The company had revenue of $126.47 million during the quarter, compared to analysts' expectations of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. As a group, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearwater Analytics

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in Clearwater Analytics by 21.1% in the 4th quarter. California State Teachers Retirement System now owns 182,839 shares of the company's stock valued at $5,032,000 after buying an additional 31,802 shares during the last quarter. Cim LLC lifted its position in shares of Clearwater Analytics by 556.1% during the fourth quarter. Cim LLC now owns 60,748 shares of the company's stock worth $1,672,000 after purchasing an additional 51,489 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Clearwater Analytics in the fourth quarter worth about $8,580,000. Mackenzie Financial Corp increased its holdings in Clearwater Analytics by 21.7% in the fourth quarter. Mackenzie Financial Corp now owns 10,996 shares of the company's stock valued at $303,000 after buying an additional 1,960 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Clearwater Analytics during the fourth quarter valued at approximately $3,362,000. 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.