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

Clearwater Analytics (NYSE:CWAN) was upgraded by equities researchers at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm currently has a $32.00 price target on the stock, down from their previous price target of $35.00. DA Davidson’s price target indicates a potential upside of 24.42% from the company’s current price.

Several other research analysts have also commented on the company. Wells Fargo & Company raised 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. Piper Sandler lifted their target price on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Oppenheimer lifted their target price on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley lifted their target price on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.56.

Clearwater Analytics Trading Down 4.8 %

NYSE:CWAN opened at $25.72 on Tuesday. The business’s 50-day moving average is $29.35 and its two-hundred day moving average is $25.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71. The firm has a market capitalization of $6.35 billion, a PE ratio of 2,574.57, a price-to-earnings-growth ratio of 10.56 and a beta of 0.72.

Insider Buying and Selling

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $31.34, for a total value of $121,912.60. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $29.65, for a total value of $554,455.00. Following the completion of the transaction, the chief financial officer now owns 214,044 shares of the company’s stock, valued at approximately $6,346,404.60. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,352 shares of company stock worth $5,384,446. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of 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. acquired a new position in shares of Clearwater Analytics during the third quarter worth approximately $45,000. Financial Management Professionals Inc. acquired a new position in shares of Clearwater Analytics during the third quarter worth approximately $58,000. Advisors Asset Management Inc. boosted its position in shares of Clearwater Analytics by 38.6% during the third quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock worth $90,000 after buying an additional 995 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Clearwater Analytics by 124.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after buying an additional 2,425 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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.