DA Davidson Upgrades Clearwater Analytics (NYSE:CWAN) to Buy

DA Davidson upgraded shares of Clearwater Analytics (NYSE:CWAN - Free Report) from a neutral rating to a buy rating in a research report report published on Tuesday, Marketbeat.com reports. DA Davidson currently has $32.00 price target on the stock, down from their prior price target of $35.00.

CWAN has been the topic of a number of other research reports. JPMorgan Chase & Co. upgraded shares of 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 note on Thursday, November 7th. Morgan Stanley increased their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Piper Sandler upped their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. 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 note on Thursday, November 7th. Finally, Oppenheimer upped their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.89.

Clearwater Analytics Stock Performance

NYSE:CWAN traded up $0.58 during mid-day trading on Tuesday, hitting $26.48. 2,566,312 shares of the company traded hands, compared to its average volume of 2,220,896. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock's fifty day moving average price is $29.35 and its 200-day moving average price is $25.50. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 2,650.65, a price-to-earnings-growth ratio of 10.56 and a beta of 0.72. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71.

Insider Transactions at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 3,890 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $31.34, for a total value of $121,912.60. Following the sale, the executive now directly owns 6,373 shares in the company, valued at $199,729.82. The trade was a 37.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $30.34, for a total transaction of $567,358.00. Following the completion of the transaction, the chief financial officer now directly owns 219,044 shares of the company's stock, valued at approximately $6,645,794.96. The trade was a 7.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,352 shares of company stock valued at $5,384,446. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Clearwater Analytics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock worth $35,000 after buying an additional 468 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Clearwater Analytics in the 3rd quarter worth about $45,000. Financial Management Professionals Inc. purchased a new position in shares of Clearwater Analytics during the 3rd quarter worth about $58,000. Benjamin F. Edwards & Company Inc. grew its holdings 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 last quarter. Finally, Amalgamated Bank purchased a new stake in Clearwater Analytics in the 2nd quarter worth about $90,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

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.