Clearwater Analytics Holdings Inc (NASDAQ: CWAN) Chief Executive Officer Sandeep Sahai completed an open-market sale of 233,813 shares of Class A common stock on February 18, 2026. The shares fetched $23.4417 apiece, producing total proceeds of $5,480,974.
The disposition coincides with the stock trading close to $23.30 and the company carrying a market capitalization of approximately $6.85 billion.
Also on February 18, Sahai recorded three acquisitions through the vesting of performance stock units. Each of the three transactions was reported with transaction code "M". The first vesting delivered 73,558 shares, the second 129,012 shares, and the third 295,471 shares. The price per share for these vested units was reported as $0.00.
Valuation and profitability context
InvestingPro analysis cited in filings indicates the stock appears slightly overvalued at current levels. The company did not record profitability in the trailing twelve months, though analysts tracked by InvestingPro are forecasting a return to profitability this year with an earnings-per-share estimate of $0.73.
InvestingPro also notes additional paid research resources available for CWAN and other U.S. stocks through its Pro Research Reports.
Corporate developments and strategic activity
Clearwater Analytics has been linked to several notable corporate developments. Generali Deutschland AG selected Clearwater to operate its unit-linked fund life insurance investment business, a multi-year assignment covering management of a roughly c40 billion portfolio and aiming to streamline portfolio management and order execution through Clearwater's investment platform.
Separately, the company was the subject of a potential acquisition by an investor group led by Permira and Warburg Pincus. The go-shop period that allowed Clearwater to solicit competing proposals concluded without any alternate offers.
Analyst responses
In reaction to the takeover developments and conclusion of the go-shop period, several brokerages adjusted their coverage. Morgan Stanley downgraded the stock from Overweight to Equalweight, attributing the move in part to the end of the go-shop period. UBS changed its rating from Buy to Neutral following the acquisition announcement. DA Davidson moved from Buy to Neutral as well, noting the pending go-private transaction. Each of these firms also revised their price targets.
All transaction details above are taken from filed reports and public disclosures. The vesting and sale occurred on the same calendar day and are recorded separately in company filings.