Clearwater Analytics (NYSE:CWAN) Shares Gap Up - Here's Why

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $27.09, but opened at $28.37. Clearwater Analytics shares last traded at $28.05, with a volume of 332,092 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley upgraded shares of Clearwater Analytics from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $30.00 to $34.00 in a research report on Friday. The Goldman Sachs Group increased their price target on Clearwater Analytics from $20.00 to $22.00 and gave the stock a "sell" rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on Clearwater Analytics from $33.00 to $35.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Royal Bank of Canada decreased their target price on Clearwater Analytics from $36.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, DA Davidson raised 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. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.33.

Clearwater Analytics Stock Up 3.4 %

The firm has a 50 day moving average price of $29.12 and a 200-day moving average price of $25.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 2,803.40, a price-to-earnings-growth ratio of 7.27 and a beta of 0.72.

Insider Buying and Selling at Clearwater Analytics

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CWAN. GAMMA Investing LLC increased its holdings in shares of Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock worth $35,000 after acquiring an additional 468 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Clearwater Analytics during the 3rd quarter worth approximately $45,000. Financial Management Professionals Inc. acquired a new stake in Clearwater Analytics during the 3rd quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. lifted its stake in Clearwater Analytics by 124.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company's stock valued at $81,000 after buying an additional 2,425 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Clearwater Analytics by 174.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock valued at $86,000 after buying an additional 1,987 shares during the period. Institutional investors and hedge funds 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.