Clearwater Analytics Holdings, Inc. (NYSE:CWAN – Get Rating) gapped down prior to trading on Friday after Piper Sandler lowered their price target on the stock from $20.00 to $17.00. The stock had previously closed at $14.62, but opened at $13.72. Clearwater Analytics shares last traded at $13.37, with a volume of 25,941 shares trading hands.
Several other equities research analysts also recently commented on CWAN. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $23.00 target price (up previously from $18.00) on shares of Clearwater Analytics in a research note on Tuesday, January 31st. Oppenheimer downgraded shares of Clearwater Analytics from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 12th. Moffett Nathanson started coverage on shares of Clearwater Analytics in a research note on Monday, April 10th. They issued an “outperform” rating and a $19.50 target price for the company. Wells Fargo & Company upped their price target on shares of Clearwater Analytics from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, February 22nd. Finally, Morgan Stanley upped their price target on shares of Clearwater Analytics from $15.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, February 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.25.
Insider Buying and Selling
In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 13,000,000 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $14.50, for a total transaction of $188,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 13,000,000 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $14.50, for a total transaction of $188,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Douglas Price sold 8,524 shares of the stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $15.00, for a total transaction of $127,860.00. Following the transaction, the insider now owns 87,938 shares of the company’s stock, valued at approximately $1,319,070. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,003,776 shares of company stock worth $217,779,391. 0.29% of the stock is owned by insiders.
Institutional Trading of Clearwater Analytics
A number of large investors have recently added to or reduced their stakes in CWAN. UBS Group AG lifted its stake in Clearwater Analytics by 1,129.0% in the second quarter. UBS Group AG now owns 2,163 shares of the company’s stock valued at $26,000 after acquiring an additional 1,987 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Clearwater Analytics by 67.5% in the first quarter. Fifth Third Bancorp now owns 1,732 shares of the company’s stock valued at $28,000 after purchasing an additional 698 shares during the period. BNP Paribas Arbitrage SNC bought a new position in shares of Clearwater Analytics in the third quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Clearwater Analytics in the third quarter valued at about $38,000. Finally, Ensign Peak Advisors Inc bought a new position in shares of Clearwater Analytics in the third quarter valued at about $49,000. Institutional investors and hedge funds own 39.07% of the company’s stock.
Clearwater Analytics Price Performance
The company has a market capitalization of $3.35 billion, a P/E ratio of -365.50 and a beta of 0.45. The company’s 50-day moving average price is $15.65 and its two-hundred day moving average price is $17.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.40 and a quick ratio of 5.40.
Clearwater Analytics (NYSE:CWAN – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $82.69 million for the quarter, compared to analyst estimates of $80.48 million. Clearwater Analytics had a negative net margin of 2.61% and a positive return on equity of 2.41%. As a group, sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post -0.07 EPS for the current year.
Clearwater Analytics Company Profile
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.