Short Interest in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Rises By 19.7%

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 8,260,000 shares, a growth of 19.7% from the February 28th total of 6,900,000 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average trading volume of 2,570,000 shares, the days-to-cover ratio is currently 3.2 days.

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $26.58, for a total transaction of $497,046.00. Following the transaction, the chief financial officer now owns 358,502 shares in the company, valued at $9,528,983.16. This represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 644,510 shares of company stock worth $18,688,862. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clearwater Analytics

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after acquiring an additional 468 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Clearwater Analytics in the fourth quarter worth about $57,000. R Squared Ltd acquired a new position in shares of Clearwater Analytics during the 4th quarter worth about $80,000. Aster Capital Management DIFC Ltd bought a new stake in Clearwater Analytics during the 4th quarter valued at approximately $82,000. Finally, Nisa Investment Advisors LLC grew its holdings in Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock valued at $86,000 after buying an additional 1,987 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Stock Down 5.4 %

NYSE CWAN traded down $1.45 during trading on Thursday, reaching $25.28. The company’s stock had a trading volume of 990,976 shares, compared to its average volume of 2,027,516. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $6.35 billion, a PE ratio of 15.20, a PEG ratio of 8.23 and a beta of 0.69. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The business has a 50-day moving average price of $28.17 and a 200-day moving average price of $27.97.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. On average, research analysts forecast that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CWAN has been the topic of a number of research analyst reports. UBS Group lifted their target price on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $35.00 to $32.00 in a research note on Tuesday, January 14th. Wells Fargo & Company increased their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.80.

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.