Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CRO Sells $2,293,017.92 in Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CRO Scott Stanley Erickson sold 76,256 shares of Clearwater Analytics stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the completion of the sale, the executive now owns 78,363 shares in the company, valued at approximately $2,356,375.41. This represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Scott Stanley Erickson also recently made the following trade(s):

• On Tuesday, December 10th, Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock. The stock was sold at an average price of $29.07, for a total transaction of $113,082.30.

Clearwater Analytics Price Performance

Shares of CWAN traded up $1.51 during trading hours on Friday, reaching $31.45. 1,373,123 shares of the company’s stock traded hands, compared to its average volume of 2,291,453. The stock has a market cap of $7.77 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 7.43 and a beta of 0.72. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm’s 50 day simple moving average is $27.99 and its 200-day simple moving average is $27.05. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $35.71.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The firm had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. Equities analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning bought a new position in shares of Clearwater Analytics during the third quarter valued at $505,000. Raymond James & Associates increased its position in Clearwater Analytics by 1.5% in the third quarter. Raymond James & Associates now owns 658,579 shares of the company’s stock worth $16,629,000 after buying an additional 9,976 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Clearwater Analytics in the third quarter worth about $45,000. Moody Aldrich Partners LLC purchased a new stake in Clearwater Analytics in the third quarter worth about $7,372,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in Clearwater Analytics in the third quarter worth about $4,941,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Morgan Stanley raised shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $30.00 to $34.00 in a report on Friday, January 17th. Oppenheimer raised their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, UBS Group lifted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.60.

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.