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Clearwater Analytics Holdings , Inc. (NYSE:CWAN), a $6.7 billion market cap company currently trading at $27.64, recently saw activity from its Chief Financial Officer, James S. Cox, involving significant stock transactions. On February 18, Cox sold a total of 18,700 shares of Class A Common Stock, generating approximately $511,059. The sales were executed at prices ranging from $27.3143 to $27.3707 per share. According to InvestingPro, the stock has delivered an impressive 40% return over the past year.
These transactions were conducted under a Rule 10b5-1 trading plan, which Cox adopted on March 11, 2024. In addition to the sales, Cox exercised stock options to acquire 33,176 shares at a price of $4.40 each. Following these transactions, Cox’s direct ownership stands at 274,857 shares. InvestingPro analysis indicates the company maintains a "GOOD" overall financial health score, with 10+ additional ProTips available for subscribers.
In other recent news, Clearwater Analytics has been making strategic moves to solidify its position in the market. The company recently partnered with Security Mutual Group to enhance its investment analytics capabilities. This alliance is expected to improve Security Mutual’s performance attribution, risk analysis, and decision-making processes by utilizing Clearwater’s advanced analytics platform.
In addition, Clearwater made significant strides with its recent acquisition of Infusion, which has been positively received by analysts from Morgan Stanley (NYSE:MS). They upgraded Clearwater’s stock from Equalweight to Overweight, reflecting their confidence in the company’s cross-selling capabilities and pricing power post-acquisition.
RBC Capital Markets, however, revised its price target for Clearwater, reducing it while maintaining an Outperform rating. This adjustment followed Clearwater’s disclosure of an agreement to purchase Enfusion, a provider of cloud-native, front-office solutions. Despite the price target revision, RBC Capital analysts see strategic value in the acquisition and expect it to drive future growth.
DA Davidson also upgraded Clearwater’s stock rating from Neutral to Buy, despite a reduced price target. Analyst Peter Heckmann believes the merger with Enfusion could significantly accelerate Clearwater’s technological advancements. Meanwhile, Oppenheimer analysts maintained a positive stance on Clearwater, reiterating an Outperform rating with a $40.00 price target, following the announcement of the Enfusion acquisition. These are the recent developments in Clearwater’s strategic journey.
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