Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Update

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 7,340,000 shares, a growth of 19.7% from the November 30th total of 6,130,000 shares. Currently, 4.1% of the company’s stock are short sold. Based on an average daily volume of 2,310,000 shares, the days-to-cover ratio is currently 3.2 days.

Analyst Ratings Changes

CWAN has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley raised their target price on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their price objective on Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada increased their target price on shares of Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $23.00 to $33.00 in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.89.

Insiders Place Their Bets

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $31.34, for a total value of $121,912.60. Following the transaction, the executive now directly owns 6,373 shares of the company’s stock, valued at $199,729.82. This represents a 37.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $29.65, for a total transaction of $554,455.00. Following the completion of the transaction, the chief financial officer now owns 214,044 shares in the company, valued at $6,346,404.60. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,942 shares of company stock valued at $5,972,366 in the last 90 days. 4.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearwater Analytics

A number of institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. bought a new position in Clearwater Analytics during the third quarter worth $45,000. Financial Management Professionals Inc. bought a new stake in shares of Clearwater Analytics in the 3rd quarter valued at $58,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Clearwater Analytics by 124.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after purchasing an additional 2,425 shares during the period. Amalgamated Bank acquired a new stake in shares of Clearwater Analytics in the 2nd quarter valued at about $90,000. Finally, Advisors Asset Management Inc. increased its position in Clearwater Analytics by 38.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock valued at $90,000 after buying an additional 995 shares in the last quarter. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Trading Down 1.9 %

Shares of CWAN stock traded down $0.55 during trading hours on Friday, hitting $28.01. 1,143,719 shares of the company’s stock traded hands, compared to its average volume of 1,713,991. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71. The stock has a market cap of $6.92 billion, a PE ratio of 2,803.80, a price-to-earnings-growth ratio of 10.57 and a beta of 0.69. The stock’s 50 day simple moving average is $29.20 and its 200 day simple moving average is $24.82.

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.