Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Sees Significant Growth in Short Interest

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 8,320,000 shares, an increase of 13.4% from the December 31st total of 7,340,000 shares. Based on an average daily trading volume, of 2,430,000 shares, the short-interest ratio is currently 3.4 days. Approximately 4.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CWAN shares. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $23.00 to $33.00 in a report on Thursday, November 7th. Piper Sandler raised their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price target on shares of Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley upgraded shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $30.00 to $34.00 in a research report on Friday, January 17th. Finally, DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

Clearwater Analytics Trading Down 1.0 %

CWAN traded down $0.28 during trading on Monday, hitting $27.88. The company’s stock had a trading volume of 324,889 shares, compared to its average volume of 1,995,814. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $35.71. The stock has a market cap of $6.89 billion, a PE ratio of 2,782.78, a PEG ratio of 7.57 and a beta of 0.72. The firm’s 50 day moving average price is $28.66 and its 200-day moving average price is $26.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

Insider Activity at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $31.34, for a total value of $121,912.60. Following the completion of the sale, the executive now owns 6,373 shares in the company, valued at $199,729.82. This represents a 37.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total transaction of $503,778.00. Following the transaction, the chief financial officer now directly owns 279,857 shares in the company, valued at $7,539,347.58. The trade was a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 253,052 shares of company stock valued at $7,182,724 in the last ninety days. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after buying an additional 468 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Clearwater Analytics during the 3rd quarter worth about $45,000. Financial Management Professionals Inc. acquired a new stake in shares of Clearwater Analytics in the third quarter worth approximately $58,000. R Squared Ltd purchased a new stake in Clearwater Analytics in the fourth quarter valued at approximately $80,000. Finally, Nisa Investment Advisors LLC increased its position in Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after purchasing an additional 1,987 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Analytics Company Profile

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.