Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) was the target of a significant growth in short interest in 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 presently 3.4 days. Currently, 4.7% of the company's stock are short sold.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. DA Davidson upgraded shares of 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 note on Tuesday. The Goldman Sachs Group upped their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the company a "sell" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Morgan Stanley upgraded shares of Clearwater Analytics from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $30.00 to $34.00 in a research note on Friday. Finally, Oppenheimer boosted their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. One 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.33.
View Our Latest Research Report on Clearwater Analytics
Clearwater Analytics Stock Performance
Clearwater Analytics stock traded up $0.92 during midday trading on Friday, hitting $28.01. The stock had a trading volume of 3,078,640 shares, compared to its average volume of 1,901,499. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a market capitalization of $6.92 billion, a PE ratio of 2,803.40, a P/E/G ratio of 7.27 and a beta of 0.72. The firm's fifty day moving average is $29.12 and its two-hundred day moving average is $25.64. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.
Insiders Place Their Bets
In other news, CEO Sandeep Sahai sold 50,000 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the sale, the chief executive officer now owns 615,855 shares of the company's stock, valued at $15,944,485.95. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James S. Cox sold 18,700 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $26.94, for a total transaction of $503,778.00. Following the transaction, the chief financial officer now directly 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. Over the last three months, insiders have sold 253,052 shares of company stock valued at $7,182,724. 4.60% of the stock is currently owned by corporate insiders.
Institutional Trading of Clearwater Analytics
Several institutional investors and hedge funds have recently modified their holdings of CWAN. GAMMA Investing LLC increased its stake in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock worth $35,000 after buying an additional 468 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Clearwater Analytics during the third quarter worth about $45,000. Financial Management Professionals Inc. purchased a new stake in shares of Clearwater Analytics during the third quarter worth about $58,000. Benjamin F. Edwards & Company Inc. raised its stake in 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 purchasing an additional 2,425 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock worth $86,000 after purchasing an additional 1,987 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors.
About Clearwater Analytics
(
Get Free Report)
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.
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