Insider Buying: Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Major Shareholder Acquires 487,719 Shares of Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWANGet Rating) major shareholder Durable Capital Partners Lp purchased 487,719 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were bought at an average price of $13.46 per share, for a total transaction of $6,564,697.74. Following the completion of the transaction, the insider now directly owns 9,433,678 shares in the company, valued at approximately $126,977,305.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Durable Capital Partners Lp also recently made the following trade(s):

  • On Wednesday, March 16th, Durable Capital Partners Lp purchased 267 shares of Clearwater Analytics stock. The shares were bought at an average price of $17.20 per share, for a total transaction of $4,592.40.
  • On Monday, March 14th, Durable Capital Partners Lp bought 247,529 shares of Clearwater Analytics stock. The stock was acquired at an average price of $16.95 per share, for a total transaction of $4,195,616.55.

Shares of NYSE:CWAN traded down $0.12 during mid-day trading on Thursday, reaching $13.88. The stock had a trading volume of 18,202 shares, compared to its average volume of 485,383. The firm has a 50 day simple moving average of $17.32 and a two-hundred day simple moving average of $18.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 12.03 and a current ratio of 12.03. Clearwater Analytics Holdings, Inc. has a twelve month low of $13.07 and a twelve month high of $27.68.

Clearwater Analytics (NYSE:CWANGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $70.78 million during the quarter, compared to analyst estimates of $70.02 million. As a group, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post -0.03 earnings per share for the current year.

CWAN has been the topic of a number of research reports. Credit Suisse Group dropped their target price on shares of Clearwater Analytics from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, March 3rd. Royal Bank of Canada dropped their target price on shares of Clearwater Analytics from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, March 3rd. Morgan Stanley cut their price target on shares of Clearwater Analytics from $28.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 3rd. Zacks Investment Research downgraded shares of Clearwater Analytics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Wells Fargo & Company decreased their target price on shares of Clearwater Analytics from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $24.30.

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada acquired a new stake in Clearwater Analytics during the 3rd quarter worth approximately $38,000. Captrust Financial Advisors bought a new position in shares of Clearwater Analytics during the 3rd quarter worth approximately $50,000. Steward Partners Investment Advisory LLC bought a new position in shares of Clearwater Analytics during the 4th quarter worth approximately $56,000. Advisor Group Holdings Inc. grew its stake in shares of Clearwater Analytics by 5,694.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 5,794 shares of the company’s stock worth $133,000 after acquiring an additional 5,694 shares in the last quarter. Finally, Citigroup Inc. bought a new position in shares of Clearwater Analytics during the 1st quarter worth approximately $143,000. Hedge funds and other institutional investors own 21.08% of the company’s stock.

About Clearwater Analytics (Get Rating)

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities. The company offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions.

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