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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 7,710,000 shares, a drop of 7.7% from the October 15th total of 8,350,000 shares. Approximately 5.5% of the company’s shares are sold short. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is currently 5.4 days.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Clearwater Analytics from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Oppenheimer boosted their target price on shares of Clearwater Analytics from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Citigroup assumed coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Stock Down 1.7 %

CWAN stock opened at $29.98 on Tuesday. The stock has a market capitalization of $7.41 billion, a PE ratio of 3,001.00, a price-to-earnings-growth ratio of 10.89 and a beta of 0.61. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. 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 firm has a 50 day moving average of $26.53 and a 200 day moving average of $22.63.

Insider Activity at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total transaction of $92,387.50. Following the completion of the sale, the executive now owns 4,844 shares in the company, valued at $115,045. This trade represents a 44.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Subi Sethi sold 21,497 shares of Clearwater Analytics stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total transaction of $522,377.10. Following the sale, the insider now owns 81,812 shares of the company’s stock, valued at $1,988,031.60. The trade was a 20.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,873,583 shares of company stock worth $45,493,744 in the last 90 days. 3.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CWAN. Chartwell Investment Partners LLC lifted its stake in shares of Clearwater Analytics by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock worth $1,233,000 after buying an additional 395 shares during the period. IHT Wealth Management LLC lifted its position in Clearwater Analytics by 5.5% during the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock worth $288,000 after acquiring an additional 598 shares during the period. Blair William & Co. IL lifted its position in Clearwater Analytics by 1.6% during the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock worth $786,000 after acquiring an additional 680 shares during the period. Arizona State Retirement System lifted its position in Clearwater Analytics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock worth $757,000 after acquiring an additional 828 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Clearwater Analytics by 38.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock worth $90,000 after acquiring an additional 995 shares during the period. 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.