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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the recipient of a large growth in short interest during 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. Approximately 4.7% of the company’s shares are sold short. Based on an average trading volume of 2,430,000 shares, the days-to-cover ratio is currently 3.4 days.

Clearwater Analytics Stock Up 1.1 %

NYSE CWAN traded up $0.31 during trading on Monday, hitting $28.47. The company’s stock had a trading volume of 1,703,375 shares, compared to its average volume of 2,067,840. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a market cap of $7.03 billion, a PE ratio of 2,849.35, a P/E/G ratio of 7.57 and a beta of 0.72. The business’s 50 day simple moving average is $28.66 and its 200-day simple moving average is $26.42.

Insider Transactions at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 139,172 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the transaction, the chief executive officer now owns 441,724 shares of the company’s stock, valued at approximately $12,783,492.56. This represents a 23.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $26.94, for a total value of $503,778.00. Following the completion of the sale, the chief financial officer now owns 279,857 shares of the company’s stock, valued at $7,539,347.58. The trade was a 6.26 % 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 worth $7,182,724. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Clearwater Analytics

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after buying an additional 468 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Clearwater Analytics in the 3rd quarter worth $45,000. Arcadia Investment Management Corp MI purchased a new position in Clearwater Analytics in the 4th quarter worth $57,000. Financial Management Professionals Inc. purchased a new stake in Clearwater Analytics during the 3rd quarter valued at about $58,000. Finally, R Squared Ltd purchased a new stake in Clearwater Analytics during the 4th quarter valued at about $80,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their target price for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Oppenheimer increased their target price on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Morgan Stanley upgraded Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $34.00 in a report on Friday, January 17th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research 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 stock. Based on data from MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus 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.