Clearwater Analytics (NYSE:CWAN) Shares Down 4.1%

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) were down 4.1% during mid-day trading on Wednesday . The company traded as low as $17.98 and last traded at $17.99. Approximately 386,851 shares traded 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 Ratings Changes

A number of research firms have recently commented on CWAN. JPMorgan Chase & Co. reduced their price objective on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Oppenheimer upgraded shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research note on Monday. Wells Fargo & Company reduced 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 note on Thursday, May 2nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $19.00 price objective on shares of Clearwater Analytics in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Clearwater Analytics Stock Performance

The stock has a market capitalization of $4.37 billion, a P/E ratio of -224.88, a PEG ratio of 7.46 and a beta of 0.57. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.59 and a current ratio of 5.59. The company’s fifty day simple moving average is $18.81 and its two-hundred day simple moving average is $18.42.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $100.55 million. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.25%. The business’s revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. As a group, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.13 EPS for the current year.

Insider Transactions at Clearwater Analytics

In other news, insider Subi Sethi sold 18,599 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $19.46, for a total transaction of $361,936.54. Following the transaction, the insider now directly owns 77,519 shares of the company’s stock, valued at $1,508,519.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Scott Stanley Erickson sold 118,204 shares of Clearwater Analytics stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $20.10, for a total value of $2,375,900.40. Following 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 this hyperlink. Also, insider Subi Sethi sold 18,599 shares of Clearwater Analytics stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $19.46, for a total transaction of $361,936.54. Following the completion of the transaction, the insider now directly owns 77,519 shares in the company, valued at $1,508,519.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,193,079 shares of company stock valued at $141,831,984. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CWAN. Advisors Asset Management Inc. boosted its position in Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after buying an additional 1,234 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Clearwater Analytics by 389.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock valued at $34,000 after buying an additional 1,549 shares in the last quarter. Eagle Bay Advisors LLC boosted its position in Clearwater Analytics by 213.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock valued at $36,000 after buying an additional 1,207 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Clearwater Analytics by 33.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock valued at $49,000 after buying an additional 616 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Clearwater Analytics in the fourth quarter valued at approximately $90,000. 50.10% of the stock is owned by institutional investors.

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.