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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 6,970,000 shares, a growth of 15.8% from the March 31st total of 6,020,000 shares. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is presently 5.8 days. Approximately 6.8% of the company’s stock are short sold.

Clearwater Analytics Stock Down 1.6 %

CWAN opened at $15.78 on Wednesday. Clearwater Analytics has a 12 month low of $13.02 and a 12 month high of $21.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.15 and a quick ratio of 5.15. The stock has a market cap of $3.86 billion, a P/E ratio of -143.45, a P/E/G ratio of 6.51 and a beta of 0.45. The stock’s 50 day moving average price is $17.19 and its 200 day moving average price is $18.72.

Insider Transactions at Clearwater Analytics

In related news, CFO James S. Cox sold 10,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $19.74, for a total value of $197,400.00. Following the completion of the transaction, the chief financial officer now owns 148,711 shares of the company’s stock, valued at $2,935,555.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $987,000.00. Following the sale, the chief executive officer now owns 270,838 shares in the company, valued at $5,346,342.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James S. Cox sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total value of $197,400.00. Following the sale, the chief financial officer now owns 148,711 shares in the company, valued at approximately $2,935,555.14. The disclosure for this sale can be found here. Insiders sold 16,310,000 shares of company stock valued at $275,809,400 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Clearwater Analytics

Several large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its position in Clearwater Analytics by 35.6% in the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after acquiring an additional 4,304,286 shares during the period. Vanguard Group Inc. increased its position in Clearwater Analytics by 36.6% in the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock valued at $258,628,000 after acquiring an additional 3,461,158 shares during the period. Conestoga Capital Advisors LLC boosted its stake in Clearwater Analytics by 1.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 6,506,247 shares of the company’s stock valued at $115,096,000 after purchasing an additional 79,880 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Clearwater Analytics by 0.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,933,075 shares of the company’s stock valued at $114,746,000 after purchasing an additional 30,771 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Clearwater Analytics by 28.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock valued at $77,126,000 after purchasing an additional 971,920 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. DA Davidson restated a “buy” rating and set a $24.00 price objective on shares of Clearwater Analytics in a research note on Monday, February 5th. Piper Sandler reiterated a “neutral” rating and set a $20.00 price target on shares of Clearwater Analytics in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. cut Clearwater Analytics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $24.00 to $22.00 in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Clearwater Analytics currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

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.