Insider Selling: Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Major Shareholder Sells 13,000,000 Shares of Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN – Get Rating) major shareholder Xii Carbon Analytics Acqu Wcas sold 13,000,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $14.50, for a total value of $188,500,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Clearwater Analytics Price Performance

Shares of NYSE CWAN opened at $13.82 on Tuesday. Clearwater Analytics Holdings, Inc. has a twelve month low of $11.23 and a twelve month high of $22.70. The stock’s 50 day moving average price is $18.29 and its 200-day moving average price is $17.41. The company has a market capitalization of $3.33 billion, a PE ratio of -345.50 and a beta of 0.50. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

CWAN has been the subject of a number of analyst reports. Credit Suisse Group lifted their price target on Clearwater Analytics from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, February 22nd. Wells Fargo & Company lifted their price target on Clearwater Analytics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $23.00 price target (up previously from $18.00) on shares of Clearwater Analytics in a research note on Tuesday, January 31st. Morgan Stanley lifted their price target on Clearwater Analytics from $15.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, February 23rd. Finally, Piper Sandler lifted their price target on Clearwater Analytics from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Hold” and an average price target of $20.67.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SNC purchased a new position in shares of Clearwater Analytics in the 3rd quarter worth approximately $32,000. UBS Group AG raised its holdings in shares of Clearwater Analytics by 1,129.0% in the 2nd quarter. UBS Group AG now owns 2,163 shares of the company’s stock worth $26,000 after purchasing an additional 1,987 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Clearwater Analytics in the 3rd quarter worth approximately $38,000. US Bancorp DE bought a new stake in shares of Clearwater Analytics in the 2nd quarter worth approximately $29,000. Finally, Captrust Financial Advisors raised its holdings in shares of Clearwater Analytics by 35.3% in the 1st quarter. Captrust Financial Advisors now owns 2,663 shares of the company’s stock worth $56,000 after purchasing an additional 695 shares during the period. Hedge funds and other institutional investors own 39.07% of the company’s stock.

Clearwater Analytics Company Profile

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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.