Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Insider Sells $2,375,900.40 in Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWANGet Free Report) insider Scott Stanley Erickson sold 118,204 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $20.10, for a total value of $2,375,900.40. Following the completion of the sale, the insider now owns 3,315 shares of the company’s stock, valued at approximately $66,631.50. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN opened at $20.11 on Tuesday. The firm has a fifty day simple moving average of $17.82 and a two-hundred day simple moving average of $18.57. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.28 and a 52 week high of $21.89. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $4.94 billion, a P/E ratio of -251.38, a PEG ratio of 7.86 and a beta of 0.58.

Clearwater Analytics (NYSE:CWANGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The company had revenue of $102.70 million during the quarter, compared to analyst estimates of $100.55 million. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was up 21.4% on a year-over-year basis. On average, analysts expect that Clearwater Analytics Holdings, Inc. will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clearwater Analytics

Several large investors have recently modified their holdings of the stock. Wasatch Advisors LP boosted its stake in Clearwater Analytics by 35.6% during the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after buying an additional 4,304,286 shares during the period. Vanguard Group Inc. boosted its stake in shares of Clearwater Analytics by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after purchasing an additional 2,219,459 shares during the period. William Blair Investment Management LLC grew its holdings in Clearwater Analytics by 42.5% during the 1st quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock valued at $183,344,000 after purchasing an additional 3,090,352 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in Clearwater Analytics by 1.2% in the 1st quarter. Conestoga Capital Advisors LLC now owns 6,506,247 shares of the company’s stock worth $115,096,000 after purchasing an additional 79,880 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in Clearwater Analytics by 0.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,933,075 shares of the company’s stock worth $114,746,000 after purchasing an additional 30,771 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Analysts Set New Price Targets

CWAN has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their target price on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Clearwater Analytics in a report on Thursday, February 29th. Morgan Stanley restated an “equal weight” rating and set a $19.00 target price on shares of Clearwater Analytics in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company cut their target price on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.70.

Check Out Our Latest Report on CWAN

About Clearwater Analytics

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Clearwater Analytics (NYSE:CWAN)

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