Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CTO Sells $998,000.00 in Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CTO Souvik Das sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $19.96, for a total transaction of $998,000.00. Following the completion of the sale, the chief technology officer now owns 33,142 shares of the company’s stock, valued at $661,514.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Clearwater Analytics Trading Up 0.6 %

Shares of Clearwater Analytics stock opened at $19.29 on Monday. The firm has a market capitalization of $4.74 billion, a PE ratio of -241.13, a price-to-earnings-growth ratio of 7.54 and a beta of 0.58. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $18.02 and its 200 day moving average is $18.53. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.28 and a 1 year high of $21.89.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.25%. The company had revenue of $102.70 million during the quarter, compared to the consensus estimate of $100.55 million. During the same period in the prior year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities research analysts forecast 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 bought and sold shares of the company. Wellington Shields & Co. LLC acquired a new position in shares of Clearwater Analytics in the first quarter valued at approximately $177,000. Artal Group S.A. grew its holdings in Clearwater Analytics by 25.0% during the 1st quarter. Artal Group S.A. now owns 25,000 shares of the company’s stock worth $442,000 after acquiring an additional 5,000 shares during the last quarter. Comerica Bank increased its position in Clearwater Analytics by 8.1% in the 1st quarter. Comerica Bank now owns 516,562 shares of the company’s stock valued at $9,138,000 after acquiring an additional 38,537 shares during the period. Jane Street Group LLC raised its stake in shares of Clearwater Analytics by 234.2% during the first quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock valued at $4,702,000 after acquiring an additional 186,273 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Clearwater Analytics by 22.3% during the first quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after purchasing an additional 23,971 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler reiterated a “neutral” rating and set a $20.00 target price on shares of Clearwater Analytics in a research report on Thursday, February 29th. Wells Fargo & Company cut their price objective on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $19.00 price target on shares of Clearwater Analytics in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus price target of $21.70.

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.