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In recent SEC filings, Sandeep Sahai, the Chief Executive Officer of Clearwater Analytics Holdings , Inc. (NYSE:CWAN), a company currently valued at $6.69 billion and showing impressive momentum with a 51.83% return over the past year according to InvestingPro, reported selling a significant portion of his holdings. On February 19, Sahai sold 218,687 shares of Class A Common Stock at an average price of $30.07 per share, amounting to approximately $6.58 million. These transactions were primarily conducted to cover tax withholding obligations related to the vesting and settlement of performance stock units. The company maintains strong financial health with a current ratio of 4.99, indicating robust liquidity management.
The transactions were part of a "sell to cover" strategy mandated by the company, ensuring tax obligations were met without discretionary action from Sahai. Following these sales, Sahai’s direct ownership in the company stands at 857,798 shares.
Additionally, Sahai acquired a total of 460,630 shares through the vesting of performance stock units, which were granted based on Clearwater Analytics’ revenue growth achievements in 2024. These acquisitions were executed at no cost to Sahai, reflecting the company’s continued performance-based compensation strategy.
In other recent news, Clearwater Analytics Holdings reported strong fourth-quarter results for 2024, surpassing Wall Street expectations with an earnings per share (EPS) of $0.13, above the forecast of $0.11, and revenue of $126.5 million, exceeding the anticipated $120.39 million. The company saw a 28% year-over-year increase in total revenue and a 39% rise in adjusted EBITDA. Clearwater’s Annual Recurring Revenue (ARR) grew by 25.3% to $474.9 million, with a Net Revenue Retention (NRR) rate of 116%, achieving its fiscal year 2025 goal a year early. Piper Sandler upgraded Clearwater’s stock rating from Neutral to Overweight, raising the price target to $36, citing the company’s robust financial performance and strategic acquisition of Enfusion. DA Davidson also maintained a Buy rating with a $32 target, expressing confidence in Clearwater’s market position. Clearwater’s 2025 guidance projects revenue between $535.5 million and $542 million, with an EBITDA margin of 34%. The company is focusing on generative AI and expanding its market reach, particularly with the upcoming Enfusion acquisition.
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