Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Sees Large Increase in Short Interest

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 8,320,000 shares, a growth of 13.4% from the December 15th total of 7,340,000 shares. Based on an average daily volume of 2,430,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 4.7% of the shares of the stock are short sold.

Clearwater Analytics Price Performance

Shares of NYSE CWAN opened at $28.01 on Monday. The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of 2,803.40, a PEG ratio of 7.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The business has a 50-day moving average of $29.12 and a 200-day moving average of $25.74.

Wall Street Analysts Forecast Growth

CWAN has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Morgan Stanley raised shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $30.00 to $34.00 in a research note on Friday. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. The Goldman Sachs Group boosted their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Insider Activity at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Friday, November 15th. The stock was sold at an average price of $30.34, for a total value of $567,358.00. Following the completion of the sale, the chief financial officer now owns 219,044 shares of the company’s stock, valued at $6,645,794.96. The trade was a 7.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the transaction, the chief executive officer now owns 615,855 shares in the company, valued at $15,944,485.95. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,052 shares of company stock valued at $7,182,724. 4.60% of the stock is owned by insiders.

Institutional Trading of Clearwater Analytics

Several large investors have recently bought and sold shares of CWAN. Chartwell Investment Partners LLC boosted its stake in shares of Clearwater Analytics by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock valued at $1,233,000 after purchasing an additional 395 shares during the period. GAMMA Investing LLC lifted its holdings 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 in the last quarter. IHT Wealth Management LLC boosted its position in Clearwater Analytics by 5.5% in the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock valued at $288,000 after buying an additional 598 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Clearwater Analytics by 1.6% during the second quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock valued at $786,000 after acquiring an additional 680 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Clearwater Analytics by 38.6% during the third quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock worth $90,000 after acquiring an additional 995 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

About Clearwater Analytics

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.