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 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 volume of 2,550,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 3.3% of the company’s shares are sold short.

Insider Buying and Selling at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at $15,944,485.95. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Souvik Das sold 76,844 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 value of $2,310,699.08. Following the sale, the chief technology officer now owns 68,902 shares of the company’s stock, valued at $2,071,883.14. The trade was a 52.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock worth $18,688,862 in the last quarter. 4.60% of the stock is owned by insiders.

Institutional Trading of Clearwater Analytics

A number of hedge funds and other institutional investors have recently modified their holdings of CWAN. GAMMA Investing LLC raised its position in Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after acquiring an additional 468 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Clearwater Analytics by 3.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock worth $469,000 after purchasing an additional 502 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Clearwater Analytics by 11.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock worth $142,000 after purchasing an additional 521 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Clearwater Analytics by 5.5% during the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock valued at $288,000 after buying an additional 598 shares during the last quarter. Finally, Summit Creek Advisors LLC increased its holdings in Clearwater Analytics by 0.3% in the fourth quarter. Summit Creek Advisors LLC now owns 285,045 shares of the company’s stock worth $7,844,000 after buying an additional 833 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN traded down $0.15 on Wednesday, reaching $26.47. 3,985,969 shares of the company’s stock were exchanged, compared to its average volume of 1,904,971. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The business’s 50-day moving average is $28.28 and its two-hundred day moving average is $27.77. 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 market capitalization of $6.65 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. As a group, equities research analysts forecast that Clearwater Analytics will post 0.18 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CWAN. Royal Bank of Canada upped their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” 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 company an “overweight” rating in a research note on Thursday, February 20th. Oppenheimer raised their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics currently has an average rating of “Moderate Buy” and a consensus target price of $33.80.

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.