Eric Lee Sells 531,457 Shares of Clearwater Analytics

Eric Lee sold 531,457 shares of Clearwater Analytics Holdings, Inc. (NYSE: CWAN) on June 25 for a total value of about $13.05 million. The shares were sold at an average price of $24.55 each, according to the latest insider transaction details.

Insider Buying and Selling at Clearwater Analytics Holdings, Inc.

Alongside Eric Lee's sale, other insiders were active on June 25. James Cox, the Chief Financial Officer, bought 109,998 shares at $24.55 each. Meanwhile, Scott Stanley Erickson, the Chief Revenue Officer, sold 538,518 shares at an average price of $17.98, and Lisa Jones sold 26,584 shares at $24.55. Jacques Aigrain also sold 69,800 shares at $10.22.

Other Institutional Activity in Clearwater Analytics

Several institutional investors adjusted their positions in Clearwater Analytics. BlackRock, Inc. increased its holdings by 2,038,216 shares, bringing its total to 28,270,108 shares worth about $668.59 million. UBS Group AG expanded its position by 9,515,458 shares, a 182.3% increase, ending with 14,735,354 shares valued at $348.49 million. HBK Investments L.P. dramatically increased its stake by 13,501,697 shares, a 3,616.8% boost, holding 13,875,000 shares valued at $328.14 million. Vanguard Portfolio Management LLC and Vanguard Capital Management LLC both opened new positions, holding 18,293,833 and 13,097,435 shares, respectively.

Clearwater Analytics Holdings, Inc. Stock Holds Steady

Shares of Clearwater Analytics traded around $24.56 on Friday. The company has a market capitalization of approximately $7.29 billion and a forward P/E ratio of 28.4. With a beta of 0.596, the stock shows less volatility compared to the broader market. The stock's 52-week range spans from $15.74 to $24.54, with recent moving averages of $24.26 for the 50-day and $22.21 for the 200-day. The company's financial health is supported by a current ratio of 2.255 and a quick ratio of 1.957.

Analysts Set New Price Targets

On May 20, DA Davidson maintained its hold rating on Clearwater Analytics with a price target of $24.55. The consensus among analysts is a hold recommendation, with an average target price of $24.47 based on seven opinions.

About Clearwater Analytics

Clearwater Analytics Holdings, Inc. provides a Software-as-a-Service (SaaS) solution that automates investment data aggregation, reconciliation, accounting, and reporting services. Headquartered in Boise, Idaho, the company caters to insurers, asset managers, hedge funds, banks, corporations, and government entities. Founded in 2004, Clearwater Analytics employs around 3,000 people and is led by CEO Sandeep Sahai. The company's platform offers portfolio management and compliance monitoring solutions.

Bottom Line

Eric Lee's recent sale of Clearwater Analytics shares is part of a broader pattern of insider activity. Investors keep an eye on such transactions for insights into insider sentiment. Clearwater Analytics, with its robust SaaS offerings, continues to attract institutional interest, as seen in the recent 13F filings. However, it's important to remember that these filings are backward-looking and may not reflect current positions.