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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 7,710,000 shares, a drop of 7.7% from the October 15th total of 8,350,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is presently 5.4 days. Currently, 5.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

CWAN has been the subject of several analyst reports. Oppenheimer raised their price target on Clearwater Analytics from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup began coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Royal Bank of Canada raised their price target on shares of Clearwater Analytics from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley upped their price objective on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Stock Up 2.8 %

Clearwater Analytics stock opened at $30.82 on Wednesday. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71. The stock has a fifty day moving average of $26.68 and a 200 day moving average of $22.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The stock has a market cap of $7.61 billion, a PE ratio of 3,082.00, a price-to-earnings-growth ratio of 10.89 and a beta of 0.61.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $24.18, for a total value of $43,144,760.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the completion of the sale, the executive now directly owns 4,844 shares in the company, valued at approximately $115,045. The trade was a 44.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,852,086 shares of company stock worth $44,971,367. 3.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearwater Analytics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. grew its position in Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after buying an additional 1,234 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Clearwater Analytics during the 3rd quarter valued at $45,000. Financial Management Professionals Inc. purchased a new stake in shares of Clearwater Analytics in the 3rd quarter worth $58,000. Benjamin F. Edwards & Company Inc. raised its holdings in Clearwater Analytics by 124.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after purchasing an additional 2,425 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in Clearwater Analytics during the third quarter valued at $117,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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.