Clearwater Analytics (NYSE:CWAN) Shares Gap Down After Analyst Downgrade

Posted by Defense World Staff on May 6th, 2023

Clearwater Analytics Holdings, Inc. (NYSE:CWAN – Get Rating) shares 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.

CWAN has been the subject of several other research reports. Credit Suisse Group boosted their target price on shares of Clearwater Analytics from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, February 22nd. TheStreet lowered shares of Clearwater Analytics from a “c-” rating to a “d+” rating in a research note on Monday, March 13th. Oppenheimer lowered shares of Clearwater Analytics from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 12th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $23.00 target price (up previously from $18.00) on shares of Clearwater Analytics in a research note on Tuesday, January 31st. Finally, Moffett Nathanson started coverage on shares of Clearwater Analytics in a research note on Monday, April 10th. They set an “outperform” rating and a $19.50 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Clearwater Analytics currently has a consensus rating of “Hold” and a consensus target price of $20.25.

Insider Transactions at Clearwater Analytics

In other news, major shareholder Xii Carbon Analytics Acqu Wcas sold 729,953 shares of the company’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $14.50, for a total transaction of $10,584,318.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Durable Capital Partners Lp sold 45,252 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $19.37, for a total value of $876,531.24. Following the completion of the transaction, the insider now owns 8,828,212 shares in the company, valued at approximately $171,002,466.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 729,953 shares of the stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $14.50, for a total transaction of $10,584,318.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,003,776 shares of company stock worth $217,779,391. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors and hedge funds have recently bought and sold shares of CWAN. UBS Group AG grew its position in Clearwater Analytics by 1,129.0% in the 2nd quarter. UBS Group AG now owns 2,163 shares of the company’s stock valued at $26,000 after buying an additional 1,987 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Clearwater Analytics by 67.5% in the 1st quarter. Fifth Third Bancorp now owns 1,732 shares of the company’s stock valued at $28,000 after acquiring an additional 698 shares during the last quarter. BNP Paribas Arbitrage SNC acquired a new stake in Clearwater Analytics in the 3rd quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Clearwater Analytics in the 3rd quarter valued at about $38,000. Finally, Ensign Peak Advisors Inc acquired a new stake in Clearwater Analytics in the 3rd quarter valued at about $49,000. Institutional investors own 39.07% of the company’s stock.

Clearwater Analytics Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.40 and a current ratio of 5.40. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -359.00 and a beta of 0.45. The stock’s fifty day simple moving average is $15.57 and its two-hundred day simple moving average is $17.26.

Clearwater Analytics (NYSE:CWAN – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Clearwater Analytics had a negative net margin of 2.61% and a positive return on equity of 2.41%. The company had revenue of $82.69 million during the quarter, compared to the consensus estimate of $80.48 million. On average, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post -0.07 EPS for the current year.

About Clearwater Analytics

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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.