Short Interest in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Grows By 13.4%

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

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock traded up $0.31 during trading on Monday, reaching $28.47. 1,703,375 shares of the stock traded hands, compared to its average volume of 2,067,840. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The business has a fifty day simple moving average of $28.66 and a two-hundred day simple moving average of $26.42. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 2,849.35, a P/E/G ratio of 7.57 and a beta of 0.72.

Analysts Set New Price Targets

A number of analysts have commented on CWAN shares. Morgan Stanley raised 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 report on Friday, January 17th. The Goldman Sachs Group upped their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada decreased their price objective on Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total value of $503,778.00. Following the transaction, the chief financial officer now directly owns 279,857 shares in the company, valued at $7,539,347.58. This trade represents a 6.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction 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 sale, the executive now directly owns 6,373 shares of the company’s stock, valued at $199,729.82. The trade was a 37.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 253,052 shares of company stock worth $7,182,724 over the last quarter. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC purchased a new position in shares of Clearwater Analytics in the third quarter valued at $53,559,000. Principal Financial Group Inc. lifted its position in Clearwater Analytics by 1,600.9% during the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock valued at $39,690,000 after purchasing an additional 1,357,425 shares during the last quarter. State Street Corp grew its stake in shares of Clearwater Analytics by 38.7% in the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after buying an additional 1,009,548 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Clearwater Analytics by 189.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after buying an additional 830,684 shares during the last quarter. Finally, Wasatch Advisors LP raised its position in shares of Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after buying an additional 559,564 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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.