Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Sees Large Increase in Short Interest

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 8,320,000 shares, a growth of 13.4% from the December 15th total of 7,340,000 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average daily volume of 2,430,000 shares, the short-interest ratio is currently 3.4 days.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $30.34, for a total value 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 $6,645,794.96. The trade was a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $31.34, for a total transaction of $121,912.60. Following the sale, the executive now directly owns 6,373 shares in the company, valued at approximately $199,729.82. This represents a 37.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 253,052 shares of company stock valued at $7,182,724 in the last ninety days. Insiders own 4.60% of the company’s stock.

Institutional Trading of Clearwater Analytics

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Clearwater Analytics by 21.5% during the second quarter. Victory Capital Management Inc. now owns 15,459 shares of the company’s stock valued at $286,000 after purchasing an additional 2,734 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Clearwater Analytics by 1.8% during the second quarter. Envestnet Asset Management Inc. now owns 282,880 shares of the company’s stock worth $5,239,000 after purchasing an additional 4,879 shares in the last quarter. Amalgamated Bank bought a new position in shares of Clearwater Analytics during the second quarter worth $90,000. Blair William & Co. IL grew its holdings in shares of Clearwater Analytics by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock valued at $786,000 after buying an additional 680 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Clearwater Analytics by 124.6% in the 2nd 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. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CWAN. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price target for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their target price for the company from $35.00 to $32.00 in a research note on Tuesday. Oppenheimer upped their price target on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley upgraded shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $34.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

Clearwater Analytics Trading Up 3.4 %

NYSE:CWAN opened at $28.01 on Friday. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 2,803.40, a PEG ratio of 7.27 and a beta of 0.72. The business’s 50-day moving average price is $29.12 and its two-hundred day moving average price is $25.64.

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.