Clearwater Analytics Holdings Inc (CWAN)

Shares of Clearwater Analytics Holdings Inc (CWAN) dropped by 7.27% from $21.31 to $19.76 in the trading on Friday, December 1, 2023. The reason why CWAN is down today is due to the company's announcement of an underwritten secondary public offering involving 17,000,000 shares of its Class A common stock. The offering benefits certain affiliates of Welsh, Carson, Anderson & Stowe, Warburg Pincus LLC, and Permira Advisers LLC (Selling Stockholders). Clearwater Analytics Holdings Inc will not receive any proceeds from this sale, and J.P. Morgan is the underwriter. The stock trades on the NYSE under "CWAN". The secondary public offering can lead to a decline in a stock's price due to increased supply, dilution, perceptions of insider sentiment, pricing dynamics, overhang, and market sentiment. Investors often assess these factors when reacting to such announcements.