Short Interest in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Expands By 19.7%

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

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $25.38, for a total value of $98,728.20. Following the completion of the sale, the executive now owns 6,373 shares in the company, valued at approximately $161,746.74. This trade represents a 37.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sandeep Sahai sold 139,172 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.94, for a total value of $4,027,637.68. Following the completion of the transaction, the chief executive officer now owns 441,724 shares in the company, valued at $12,783,492.56. The trade was a 23.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,942 shares of company stock valued at $5,972,366. 4.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Clearwater Analytics Price Performance

Shares of CWAN stock traded down $0.55 during trading hours on Friday, reaching $28.01. The stock had a trading volume of 1,143,719 shares, compared to its average volume of 1,713,991. The stock’s fifty day simple moving average is $29.20 and its 200 day simple moving average is $24.82. 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 firm has a market capitalization of $6.92 billion, a PE ratio of 2,803.80, a PEG ratio of 10.57 and a beta of 0.69. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CWAN. Piper Sandler increased 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. JPMorgan Chase & Co. upgraded 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 research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Morgan Stanley upped their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on shares of Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Hold” and a consensus target price of $31.89.

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.