Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Up 5.8% in March

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,020,000 shares, a growth of 5.8% from the March 15th total of 5,690,000 shares. Currently, 6.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is presently 4.9 days.

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 10,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $197,400.00. Following the transaction, the chief financial officer now owns 148,711 shares of the company’s stock, valued at $2,935,555.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Clearwater Analytics news, CFO James S. Cox sold 10,000 shares of Clearwater Analytics stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $197,400.00. Following the transaction, the chief financial officer now directly owns 148,711 shares of the company’s stock, valued at $2,935,555.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The disclosure for this sale can be found here. Insiders sold 16,310,000 shares of company stock worth $275,809,400 over the last three months. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in shares of Clearwater Analytics by 65.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock worth $67,860,000 after acquiring an additional 1,335,802 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Clearwater Analytics in the third quarter valued at $2,551,000. Vanguard Group Inc. raised its holdings in shares of Clearwater Analytics by 13.8% in the third quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock valued at $182,780,000 after buying an additional 1,148,338 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Clearwater Analytics by 42.1% during the fourth quarter. Raymond James & Associates now owns 621,031 shares of the company’s stock worth $12,439,000 after buying an additional 183,899 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Clearwater Analytics during the third quarter worth about $2,022,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Analysts Set New Price Targets

CWAN has been the topic of a number of research analyst reports. Piper Sandler restated a “neutral” rating and issued a $20.00 target price on shares of Clearwater Analytics in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered shares of Clearwater Analytics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $24.00 to $22.00 in a report on Thursday, February 29th. Finally, DA Davidson reaffirmed a “buy” rating and set a $24.00 target price on shares of Clearwater Analytics in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Clearwater Analytics has an average rating of “Moderate Buy” and an average target price of $22.00.

Clearwater Analytics Stock Up 0.9 %

Shares of NYSE CWAN traded up $0.14 during midday trading on Wednesday, hitting $16.37. The company’s stock had a trading volume of 372,324 shares, compared to its average volume of 1,219,718. Clearwater Analytics has a 1 year low of $13.02 and a 1 year high of $21.89. The business’s fifty day simple moving average is $17.81 and its two-hundred day simple moving average is $18.97. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of -147.55, a price-to-earnings-growth ratio of 6.40 and a beta of 0.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.15 and a quick ratio of 5.15.

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.