Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Update

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the recipient of a significant drop in short interest during 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. Based on an average daily trading volume, of 2,550,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 3.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CWAN shares. Oppenheimer boosted their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. UBS Group lifted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.80.

Clearwater Analytics Stock Performance

Shares of CWAN stock traded up $0.02 during trading on Tuesday, reaching $26.61. 2,419,844 shares of the company’s stock traded hands, compared to its average volume of 1,897,081. The company has a market capitalization of $6.68 billion, a P/E ratio of 16.03, a PEG ratio of 8.23 and a beta of 0.69. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average is $28.30 and its 200 day moving average is $27.76. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $126.47 million for the quarter, compared to analysts’ expectations of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. Equities research analysts expect that Clearwater Analytics will post 0.18 EPS for the current year.

Insider Activity

In related news, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $15,944,485.95. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Subi Sethi sold 62,482 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the transaction, the insider now owns 144,973 shares in the company, valued at approximately $4,359,338.11. This trade represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock worth $18,688,862 over the last three months. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Clearwater Analytics

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Clearwater Analytics by 57.4% in 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. Arcadia Investment Management Corp MI purchased a new stake in Clearwater Analytics in the 4th quarter worth approximately $57,000. R Squared Ltd purchased a new stake in Clearwater Analytics in the 4th quarter worth approximately $80,000. Aster Capital Management DIFC Ltd purchased a new stake in Clearwater Analytics in the 4th quarter worth approximately $82,000. Finally, Nisa Investment Advisors LLC lifted its stake in Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after purchasing an additional 1,987 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.