Clearwater Analytics (NYSE:CWAN) Downgraded by DA Davidson to Neutral

DA Davidson cut shares of Clearwater Analytics (NYSE:CWAN) from a buy rating to a neutral rating in a research report released on Friday, MarketBeat Ratings reports. They currently have $35.00 price target on the stock, up from their prior price target of $31.00.

Several other equities analysts have also issued reports on CWAN. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $23.00 to $33.00 in a report on Thursday. Morgan Stanley lifted their price target on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their price objective on Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday. The Goldman Sachs Group increased their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.67.

Clearwater Analytics Stock Down 0.5 %

Shares of CWAN traded down $0.17 during midday trading on Friday, reaching $31.73. 167,598 shares of the stock were exchanged, compared to its average volume of 1,471,994. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $7.82 billion, a P/E ratio of 3,190.00, a PEG ratio of 10.36 and a beta of 0.61. The company’s 50 day moving average is $25.79 and its two-hundred day moving average is $22.04. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the sale, the chief financial officer now directly owns 224,044 shares in the company, valued at $5,860,991.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total transaction of $489,192.00. Following the completion of the transaction, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction on 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,864,693 shares of company stock valued at $45,128,342. Corporate insiders own 3.46% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CWAN. William Blair Investment Management LLC grew its position in shares of Clearwater Analytics by 42.5% during the first quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock worth $183,344,000 after acquiring an additional 3,090,352 shares during the last quarter. Hood River Capital Management LLC purchased a new position in shares of Clearwater Analytics during the second quarter worth about $43,280,000. Vanguard Group Inc. increased its position in Clearwater Analytics by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock valued at $267,676,000 after acquiring an additional 2,219,459 shares during the period. Bamco Inc. NY raised its stake in Clearwater Analytics by 30.8% during the 1st quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock valued at $94,804,000 after acquiring an additional 1,262,150 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new stake in Clearwater Analytics during the 3rd quarter worth approximately $11,071,000. 50.10% of the stock is owned by institutional investors and hedge funds.

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.