Short Interest in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Expands By 7.0%

Clearwater Analytics Holdings, Inc. (NYSE:CWANGet Free Report) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 5,690,000 shares, a growth of 7.0% from the February 29th total of 5,320,000 shares. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 6.0% of the company’s stock are sold short.

Analyst Ratings Changes

A number of brokerages have commented on CWAN. Piper Sandler reaffirmed a “neutral” rating and set a $20.00 price target on shares of Clearwater Analytics in a research report on Thursday, February 29th. JPMorgan Chase & Co. cut Clearwater Analytics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $24.00 to $22.00 in a report on Thursday, February 29th. Finally, DA Davidson reissued a “buy” rating and issued a $24.00 price objective on shares of Clearwater Analytics in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Clearwater Analytics presently has an average rating of “Moderate Buy” and a consensus target price of $21.77.

Check Out Our Latest Analysis on Clearwater Analytics

Clearwater Analytics Price Performance

NYSE CWAN traded down $0.05 during trading hours on Wednesday, reaching $17.15. The company’s stock had a trading volume of 263,523 shares, compared to its average volume of 1,273,162. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of -155.82, a P/E/G ratio of 6.85 and a beta of 0.45. Clearwater Analytics has a 1-year low of $13.02 and a 1-year 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 company’s 50-day moving average is $18.27 and its two-hundred day moving average is $19.17.

Insider Activity

In related news, CTO Souvik Das sold 30,588 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $19.65, for a total transaction of $601,054.20. Following the transaction, the chief technology officer now directly owns 23,826 shares in the company, valued at approximately $468,180.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of Clearwater Analytics stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $16.90, for a total transaction of $274,625,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Souvik Das sold 30,588 shares of Clearwater Analytics stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $19.65, for a total value of $601,054.20. Following the sale, the chief technology officer now directly owns 23,826 shares of the company’s stock, valued at approximately $468,180.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,400,588 shares of company stock worth $277,607,454. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of large investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. increased its stake in Clearwater Analytics by 17.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,823 shares of the company’s stock worth $143,000 after buying an additional 1,029 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Clearwater Analytics during the 1st quarter worth approximately $12,870,000. Citigroup Inc. purchased a new stake in Clearwater Analytics during the 1st quarter worth approximately $143,000. BlackRock Inc. increased its stake in Clearwater Analytics by 4.6% during the 1st quarter. BlackRock Inc. now owns 470,328 shares of the company’s stock worth $9,877,000 after buying an additional 20,705 shares in the last quarter. Finally, Durable Capital Partners LP increased its stake in Clearwater Analytics by 11.3% during the 1st quarter. Durable Capital Partners LP now owns 8,945,959 shares of the company’s stock worth $187,865,000 after buying an additional 908,588 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Company Profile

(Get Free Report)

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.

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