Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Up 24.2% in September

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 9,790,000 shares, an increase of 24.2% from the August 31st total of 7,880,000 shares. Based on an average daily trading volume, of 2,040,000 shares, the days-to-cover ratio is currently 4.8 days. Currently, 7.0% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their target price on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Piper Sandler restated a “neutral” rating and issued a $23.00 target price on shares of Clearwater Analytics in a research note on Monday, September 9th. Oppenheimer raised shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Monday, July 8th. Citigroup began coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.78.

Clearwater Analytics Trading Up 0.6 %

NYSE:CWAN traded up $0.14 during mid-day trading on Monday, hitting $25.34. 159,302 shares of the company’s stock were exchanged, compared to its average volume of 1,492,003. The firm has a market capitalization of $6.23 billion, a P/E ratio of -315.00, a PEG ratio of 9.30 and a beta of 0.61. The company has a 50 day simple moving average of $23.47 and a 200-day simple moving average of $19.98. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $26.02.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company had revenue of $106.79 million during the quarter, compared to analysts’ expectations of $105.51 million. During the same period in the prior year, the company posted ($0.03) earnings per share. Clearwater Analytics’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, research analysts expect that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insider Activity

In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $18.92, for a total transaction of $213,323.00. Following the transaction, the chief financial officer now owns 232,503 shares of the company’s stock, valued at approximately $4,398,956.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The disclosure for this sale can be found here. Insiders sold a total of 10,897,118 shares of company stock worth $247,319,596 in the last three months. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of large investors have recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in shares of Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after purchasing an additional 1,234 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock valued at $34,000 after purchasing an additional 1,549 shares in the last quarter. Amalgamated Bank purchased a new position in Clearwater Analytics during the second quarter worth about $90,000. Point72 Asset Management L.P. bought a new stake in Clearwater Analytics in the 2nd quarter worth about $91,000. Finally, RiverPark Advisors LLC increased its stake in Clearwater Analytics by 361.0% in the 1st quarter. RiverPark Advisors LLC now owns 5,366 shares of the company’s stock valued at $95,000 after buying an additional 4,202 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors.

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.