Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Sees Significant Decrease in Short Interest

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 6,900,000 shares, a drop of 17.0% from the February 13th total of 8,310,000 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily volume of 2,550,000 shares, the days-to-cover ratio is presently 2.7 days.

Clearwater Analytics Stock Down 0.6 %

NYSE:CWAN traded down $0.17 during trading hours on Friday, hitting $26.52. 5,389,729 shares of the company's stock traded hands, compared to its average volume of 1,920,528. The stock's fifty day moving average price is $28.26 and its two-hundred day moving average price is $27.77. The firm has a market cap of $6.66 billion, a P/E ratio of 15.98, a P/E/G ratio of 8.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. On average, research analysts expect that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

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Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CWAN shares. Royal Bank of Canada lifted their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and cut their price target for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. Oppenheimer lifted their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, Piper Sandler raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and upped their price target for the company from $28.00 to $36.00 in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.80.

Insider Buying and Selling at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the sale, the chief executive officer now directly owns 615,855 shares of the company's stock, valued at approximately $15,944,485.95. This represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James S. Cox sold 18,700 shares of the firm'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 owns 279,857 shares in the company, valued at $7,539,347.58. This represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 644,510 shares of company stock worth $18,688,862. 4.60% of the stock is owned by company insiders.

Institutional Trading of Clearwater Analytics

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock worth $35,000 after purchasing an additional 468 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Clearwater Analytics by 3.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company's stock valued at $469,000 after acquiring an additional 502 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Clearwater Analytics by 11.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company's stock valued at $142,000 after acquiring an additional 521 shares during the last quarter. IHT Wealth Management LLC grew its position in Clearwater Analytics by 5.5% in the third quarter. IHT Wealth Management LLC now owns 11,416 shares of the company's stock worth $288,000 after acquiring an additional 598 shares in the last quarter. Finally, Summit Creek Advisors LLC raised its holdings in shares of Clearwater Analytics by 0.3% during the 4th quarter. Summit Creek Advisors LLC now owns 285,045 shares of the company's stock valued at $7,844,000 after purchasing an additional 833 shares in the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

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.