Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Up 13.4% in January

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

Clearwater Analytics Stock Up 0.5 %

Shares of NYSE CWAN traded up $0.14 during midday trading on Monday, hitting $28.30. The stock had a trading volume of 787,653 shares, compared to its average volume of 2,023,173. The business’s 50 day moving average is $28.66 and its 200-day moving average is $26.42. The company has a market cap of $6.99 billion, a P/E ratio of 2,830.83, a PEG ratio of 7.57 and a beta of 0.72. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Oppenheimer lifted their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Finally, Morgan Stanley raised shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $30.00 to $34.00 in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

Insider Buying and Selling at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 139,172 shares of Clearwater Analytics stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the sale, the chief executive officer now owns 441,724 shares of the company’s stock, valued at approximately $12,783,492.56. The trade was a 23.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $31.34, for a total transaction of $121,912.60. Following the sale, the executive now directly owns 6,373 shares in the company, valued at $199,729.82. The trade was a 37.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,052 shares of company stock worth $7,182,724. 4.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP lifted its stake in shares of Clearwater Analytics by 3.2% in the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after buying an additional 559,564 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Clearwater Analytics by 1.6% during the third quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock valued at $171,156,000 after purchasing an additional 107,210 shares during the last quarter. State Street Corp raised its holdings in shares of Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after purchasing an additional 1,009,548 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Clearwater Analytics by 5.7% during the third quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock valued at $88,710,000 after purchasing an additional 187,881 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Clearwater Analytics by 11.1% during the third quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock valued at $83,186,000 after purchasing an additional 327,880 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

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.