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

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

Insider Buying and Selling

In other news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $24.44, for a total transaction of $457,028.00. Following the transaction, the chief financial officer now owns 227,503 shares of the company’s stock, valued at $5,560,173.32. This represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,852,086 shares of company stock valued at $44,971,367. 3.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Chartwell Investment Partners LLC grew its position in Clearwater Analytics by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock worth $1,233,000 after acquiring an additional 395 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of Clearwater Analytics by 5.5% in the third quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock worth $288,000 after purchasing an additional 598 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Clearwater Analytics by 1.6% in the second quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock worth $786,000 after buying an additional 680 shares during the period. Arizona State Retirement System raised its holdings in Clearwater Analytics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock valued at $757,000 after buying an additional 828 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted 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 valued at $90,000 after buying an additional 995 shares during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $23.00 to $33.00 in a report on Thursday, November 7th. Royal Bank of Canada raised their price target on Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. DA Davidson cut Clearwater Analytics from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $31.00 to $35.00 in a report on Friday, November 8th. Finally, Oppenheimer lifted their target price on Clearwater Analytics from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Clearwater Analytics has a consensus rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock opened at $30.82 on Wednesday. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 3,082.00, a price-to-earnings-growth ratio of 10.89 and a beta of 0.61. The company has a fifty day moving average of $26.68 and a 200-day moving average of $22.72. 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 quick ratio of 4.66 and a current ratio of 4.66.

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.