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Kathleen A. Corbet, a director at Clearwater Analytics Holdings , Inc. (NYSE:CWAN), recently sold 7,527 shares of the company’s Class A common stock. The transaction, which took place on March 17, was executed at an average price of $26.4733 per share, amounting to a total sale value of $199,264. The sale comes as CWAN trades near its 52-week high, having delivered an impressive 58% return over the past year. According to InvestingPro, the company maintains strong liquidity with a current ratio of 4.99.
Following this transaction, Corbet holds 27,132 shares of Clearwater Analytics. The sale was reported in a Form 4 filing with the Securities and Exchange Commission, highlighting her ongoing involvement and stake in the $6.7 billion market cap company. InvestingPro analysis shows the stock trading slightly above its Fair Value, with analyst targets ranging from $33 to $40 per share. Discover more insights with InvestingPro’s comprehensive research report, available for CWAN and 1,400+ other US stocks.
In other recent news, Clearwater Analytics has announced its plans to acquire Beacon Platform and Bistro for a total of $685 million, with the purchase made through a combination of cash and stock. This acquisition is aimed at enhancing Clearwater’s capabilities in risk analytics and portfolio visualization. The company will spend approximately $560 million on Beacon Platform, which provides cross-asset class modeling and risk analytics. Additionally, Clearwater will pay $125 million for Bistro, a portfolio visualization software initially developed for Blackstone (NYSE:BX)’s credit and insurance business. These strategic moves are set to create a unified investment management platform, potentially streamlining operations for investment managers.
Clearwater’s recent financial performance has drawn attention, with the company reporting a 28% year-over-year increase in total revenue and a 39% rise in adjusted EBITDA for the fourth quarter, surpassing expectations. This robust performance led DA Davidson to maintain a Buy rating on the stock with a $32 price target, while Piper Sandler upgraded the stock rating from Neutral to Overweight and increased the price target to $36. Piper Sandler’s analysts noted the company’s 25% growth in Annual Recurring Revenue and a Net Revenue Retention rate of 116%, which exceeded their fiscal year 2025 goal a year early. The firm’s analysts view Clearwater’s broadened service offerings as a competitive advantage likely to enhance cross-selling opportunities and improve the company’s market position.
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