Pictet Asset Management SA Sells 6,685 Shares of Clarivate Plc (NYSE:CLVT)

Pictet Asset Management SA reduced its stake in shares of Clarivate Plc (NYSE:CLVTGet Rating) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,232 shares of the company’s stock after selling 6,685 shares during the quarter. Pictet Asset Management SA’s holdings in Clarivate were worth $1,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearstead Advisors LLC bought a new position in shares of Clarivate during the first quarter valued at about $25,000. Elequin Capital LP bought a new position in shares of Clarivate during the first quarter valued at about $28,000. Ellevest Inc. grew its stake in shares of Clarivate by 267.5% during the second quarter. Ellevest Inc. now owns 2,624 shares of the company’s stock valued at $36,000 after buying an additional 1,910 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Clarivate by 50.0% during the first quarter. Penserra Capital Management LLC now owns 5,322 shares of the company’s stock valued at $89,000 after buying an additional 1,774 shares during the last quarter. Finally, CI Investments Inc. bought a new stake in shares of Clarivate in the first quarter worth about $103,000. 83.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Andrew Miles Snyder bought 208,333 shares of the stock in a transaction dated Wednesday, September 14th. The stock was purchased at an average cost of $11.61 per share, for a total transaction of $2,418,746.13. Following the completion of the acquisition, the director now owns 208,333 shares of the company’s stock, valued at $2,418,746.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider James Gordon Samson sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $10.48, for a total value of $1,048,000.00. Following the completion of the transaction, the insider now directly owns 737,898 shares in the company, valued at approximately $7,733,171.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew Miles Snyder acquired 208,333 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was purchased at an average price of $11.61 per share, with a total value of $2,418,746.13. Following the completion of the acquisition, the director now owns 208,333 shares in the company, valued at $2,418,746.13. The disclosure for this purchase can be found here. Insiders own 24.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group cut their target price on Clarivate from $17.00 to $14.50 and set a “buy” rating on the stock in a research note on Wednesday, November 9th. Royal Bank of Canada cut their target price on Clarivate from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 9th. Wells Fargo & Company cut their target price on Clarivate from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 9th. Finally, Morgan Stanley cut their price objective on Clarivate from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Clarivate has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Clarivate Stock Performance

Clarivate stock opened at $9.24 on Wednesday. The stock’s 50 day simple moving average is $9.85 and its two-hundred day simple moving average is $12.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of -1.35 and a beta of 0.98. Clarivate Plc has a fifty-two week low of $8.00 and a fifty-two week high of $25.63.

About Clarivate

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Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

See Also

Institutional Ownership by Quarter for Clarivate (NYSE:CLVT)

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