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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 8,320,000 shares, an increase of 13.4% from the December 31st total of 7,340,000 shares. Currently, 4.7% of the company's shares are short sold. Based on an average daily volume of 2,430,000 shares, the days-to-cover ratio is presently 3.4 days.

Clearwater Analytics Price Performance

CWAN traded up $0.40 during trading on Thursday, hitting $29.07. The company's stock had a trading volume of 1,562,453 shares, compared to its average volume of 2,017,477. The firm's 50 day moving average price is $28.41 and its two-hundred day moving average price is $26.57. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 2,909.41, a price-to-earnings-growth ratio of 7.57 and a beta of 0.72.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. DA Davidson raised Clearwater Analytics from a "neutral" rating to a "buy" rating and decreased their price target for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Morgan Stanley raised Clearwater Analytics from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $30.00 to $34.00 in a research report on Friday, January 17th. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $23.00 to $33.00 in a report on Thursday, November 7th. Oppenheimer raised their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.33.

Insider Transactions at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $31.34, for a total transaction of $121,912.60. Following the completion of the transaction, the executive now directly owns 6,373 shares in the company, valued at approximately $199,729.82. This represents a 37.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total value of $503,778.00. Following the transaction, the chief financial officer now directly owns 279,857 shares in the company, valued at approximately $7,539,347.58. This represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 253,052 shares of company stock worth $7,182,724 in the last three months. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in Clearwater Analytics by 340.6% in the second quarter. The Manufacturers Life Insurance Company now owns 74,988 shares of the company's stock worth $1,389,000 after purchasing an additional 57,969 shares during the period. Point72 Asset Management L.P. bought a new position in Clearwater Analytics during the second quarter worth about $91,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Clearwater Analytics in the second quarter worth about $805,000. Sanctuary Advisors LLC acquired a new stake in shares of Clearwater Analytics during the second quarter worth about $300,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Clearwater Analytics by 46.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company's stock valued at $684,000 after purchasing an additional 8,600 shares in the last quarter. 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.