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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw a significant 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 trading volume of 2,430,000 shares, the days-to-cover ratio is currently 3.4 days. Approximately 4.7% of the company’s stock are sold short.

Clearwater Analytics Trading Up 3.4 %

NYSE:CWAN opened at $28.01 on Monday. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $29.12 and its 200-day simple moving average is $25.74. The firm has a market cap of $6.92 billion, a P/E ratio of 2,803.40, a PEG ratio of 7.27 and a beta of 0.72.

Insider Buying and Selling

In related news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total value of $503,778.00. Following the completion of the transaction, the chief financial officer now directly owns 279,857 shares of the company’s stock, valued at $7,539,347.58. This represents a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 approximately $199,729.82. The trade was a 37.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 253,052 shares of company stock worth $7,182,724 over the last 90 days. 4.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP lifted its stake in shares of Clearwater Analytics by 3.2% in the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after acquiring an additional 559,564 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Clearwater Analytics by 1.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock valued at $210,659,000 after purchasing an additional 128,402 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Clearwater Analytics by 1.6% in the 3rd 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 in the last quarter. State Street Corp increased its position in Clearwater Analytics by 38.7% during the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after purchasing an additional 1,009,548 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Clearwater Analytics by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock worth $88,710,000 after buying an additional 187,881 shares in the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CWAN. Morgan Stanley upgraded shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $34.00 in a research note on Friday. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their target price for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Royal Bank of Canada cut their price target on Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group raised their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. 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 company. According to MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

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.