Clearwater Analytics (NYSE:CWAN) Stock Price Down 4.1%

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) shares dropped 4.1% during mid-day trading on Wednesday . The stock traded as low as $17.98 and last traded at $17.99. Approximately 386,851 shares changed hands during trading, a decline of 73% from the average daily volume of 1,423,856 shares. The stock had previously closed at $18.75.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Monday. Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 price objective on shares of Clearwater Analytics in a report on Thursday, May 2nd. Finally, Wells Fargo & Company dropped their price objective on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Clearwater Analytics Stock Performance

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 firm has a market capitalization of $4.65 billion, a P/E ratio of -236.50, a P/E/G ratio of 6.96 and a beta of 0.57. The stock has a fifty day moving average of $18.87 and a 200-day moving average of $18.42.

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

Insider Buying and Selling

In related news, insider Scott Stanley Erickson sold 118,204 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $20.10, for a total transaction of $2,375,900.40. Following the completion of the transaction, the insider now directly owns 3,315 shares of the company’s stock, valued at $66,631.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Scott Stanley Erickson sold 118,204 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $20.10, for a total transaction of $2,375,900.40. Following the completion of the transaction, the insider now directly owns 3,315 shares of the company’s stock, valued at $66,631.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Warburg Pincus Llc sold 7,000,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $19.71, for a total value of $137,970,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,193,079 shares of company stock worth $141,831,984. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Comerica Bank acquired a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $9,059,000. Citigroup Inc. lifted its position in shares of Clearwater Analytics by 55.5% in the third quarter. Citigroup Inc. now owns 32,298 shares of the company’s stock valued at $625,000 after buying an additional 11,529 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Clearwater Analytics by 13.8% in the third quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock valued at $182,780,000 after buying an additional 1,148,338 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $2,551,000. Finally, Curated Wealth Partners LLC acquired a new stake in shares of Clearwater Analytics in the fourth quarter valued at approximately $299,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Company Profile

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.