Short Interest in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Declines By 7.7%

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

Clearwater Analytics Stock Performance

NYSE:CWAN traded down $0.43 during mid-day trading on Monday, hitting $30.06. The stock had a trading volume of 542,029 shares, compared to its average volume of 1,584,501. 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 company has a 50 day simple moving average of $26.42 and a 200-day simple moving average of $22.54. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 3,052.05, a P/E/G ratio of 10.89 and a beta of 0.61. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71.

Insiders Place Their Bets

In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction on Tuesday, September 10th. The shares were 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 owns 4,844 shares of the company's stock, valued at approximately $115,045. This represents a 44.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,854,883 shares of company stock worth $44,926,386 over the last three months. 3.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Clearwater Analytics

Several large investors have recently made changes to their positions in CWAN. Hood River Capital Management LLC acquired a new position in Clearwater Analytics during the 2nd quarter worth $43,280,000. Vanguard Group Inc. grew its position in Clearwater Analytics by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company's stock valued at $267,676,000 after buying an additional 2,219,459 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in Clearwater Analytics during the 3rd quarter valued at about $53,559,000. Bamco Inc. NY raised its position in shares of Clearwater Analytics by 30.8% during the 1st quarter. Bamco Inc. NY now owns 5,359,172 shares of the company's stock worth $94,804,000 after buying an additional 1,262,150 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Clearwater Analytics by 38.7% in the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company's stock worth $91,341,000 after acquiring an additional 1,009,548 shares during the period. Institutional investors and hedge funds own 50.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CWAN. Citigroup began coverage on Clearwater Analytics in a research note on Monday, August 19th. They issued a "buy" rating and a $28.00 price target on the stock. Oppenheimer upped their target price on Clearwater Analytics from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Piper Sandler raised their price target on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of Clearwater Analytics from $23.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a "sell" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $30.67.

Clearwater Analytics Company Profile

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.