Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Up 13.4% in December

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 8,320,000 shares, a growth of 13.4% from the December 15th total of 7,340,000 shares. Based on an average trading volume of 2,430,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 4.7% of the shares of the company are short sold.

Clearwater Analytics Stock Performance

CWAN opened at $28.01 on Monday. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The stock has a market cap of $6.92 billion, a P/E ratio of 2,803.40, a P/E/G ratio of 7.27 and a beta of 0.72. The stock’s 50 day simple moving average is $29.12 and its 200 day simple moving average is $25.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

Insider Activity

In other news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total value of $503,778.00. Following the transaction, the chief financial officer now owns 279,857 shares of the company’s stock, valued at approximately $7,539,347.58. The trade was a 6.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 615,855 shares of the company’s stock, valued at approximately $15,944,485.95. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 253,052 shares of company stock valued at $7,182,724 in the last ninety days. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Clearwater Analytics

Several large investors have recently bought and sold shares of CWAN. Victory Capital Management Inc. raised its position in Clearwater Analytics by 21.5% during the second quarter. Victory Capital Management Inc. now owns 15,459 shares of the company’s stock worth $286,000 after acquiring an additional 2,734 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Clearwater Analytics by 1.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 282,880 shares of the company’s stock worth $5,239,000 after purchasing an additional 4,879 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Clearwater Analytics during the 2nd quarter worth approximately $90,000. Blair William & Co. IL lifted its stake in Clearwater Analytics by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock valued at $786,000 after buying an additional 680 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after buying an additional 2,425 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CWAN. Oppenheimer upped their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their price target for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Wells Fargo & Company lifted their price objective on Clearwater Analytics from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada dropped their target price on Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $23.00 to $33.00 in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.33.

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.