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James S. Cox, the Chief Financial Officer of Clearwater Analytics Holdings , Inc. (NYSE:CWAN), recently executed a series of stock transactions as reported in a Form 4 filing with the Securities and Exchange Commission. On March 17, Cox sold a total of 18,700 shares of Class A common stock, generating approximately $497,124. The shares were sold at prices ranging from $26.35 to $26.76 and from $26.39 to $26.74, as part of a pre-arranged trading plan under Rule 10b5-1. The transaction comes as Clearwater, currently valued at $6.67 billion, has delivered a strong 58% return over the past year.
Additionally, Cox acquired 33,357 shares through the exercise of stock options at a price of $4.40 per share, totaling $146,770. The transactions also included the disposition of 19,657 shares to cover tax withholding obligations, valued at $522,459. Following these transactions, Cox holds 358,502 shares directly. According to InvestingPro analysis, Clearwater maintains a strong financial position with a current ratio of 4.99 and operates with moderate debt levels, earning a "GOOD" overall financial health score. For deeper insights into CWAN’s valuation and 12 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Clearwater Analytics has reported strong financial performance, with a 28% year-over-year increase in total revenue and a 39% rise in adjusted EBITDA for the fourth quarter, surpassing DA Davidson’s forecasts. The company has also announced a significant move to acquire Beacon Platform and Bistro for $685 million, aiming to enhance its risk analytics and portfolio visualization capabilities. This acquisition is expected to be funded through a combination of Clearwater’s term loan, cash on hand, and a revolving credit line. Additionally, Clearwater’s pending acquisition of Enfusion is highlighted as a strategic step towards offering a comprehensive investment management platform.
DA Davidson has maintained a Buy rating on Clearwater Analytics, with a price target of $36, reflecting confidence in the company’s growth trajectory and integration capabilities. Piper Sandler has upgraded Clearwater’s stock rating from Neutral to Overweight, raising the price target to $36, following the company’s impressive fourth-quarter results. The analysts from Piper Sandler see the acquisition of Enfusion as a strong value proposition that could enhance Clearwater’s competitive edge and create opportunities for cross-selling and upselling.
Clearwater’s recent strategic moves, including the acquisitions, are seen as pivotal in expanding its investment management solutions. The company’s ability to offer a unified platform for investment managers is anticipated to streamline operations and improve investment outcomes. These developments mark a significant expansion in Clearwater’s service offerings, positioning it to potentially increase its market share and improve client relationships.
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