Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Sees Significant Increase in Short Interest

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 6,970,000 shares, an increase of 15.8% from the March 31st total of 6,020,000 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 5.8 days. Approximately 6.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CWAN shares. JPMorgan Chase & Co. downgraded Clearwater Analytics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $24.00 to $22.00 in a research note on Thursday, February 29th. Piper Sandler reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Clearwater Analytics in a report on Thursday, February 29th. Finally, DA Davidson reiterated a “buy” rating and issued a $24.00 target price on shares of Clearwater Analytics in a report on Monday, February 5th. One 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.com, Clearwater Analytics presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Clearwater Analytics Price Performance

CWAN stock traded down $0.37 during trading on Monday, hitting $16.03. 1,270,162 shares of the stock traded hands, compared to its average volume of 1,192,245. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -149.09, a P/E/G ratio of 6.51 and a beta of 0.45. Clearwater Analytics has a one year low of $13.02 and a one year high of $21.89. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $17.35 and a 200 day simple moving average of $18.78.

Insiders Place Their Bets

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.90, for a total value of $274,625,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of Clearwater Analytics stock in a transaction on 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 filing with the SEC, which is available at this hyperlink. Also, CFO James S. Cox sold 10,000 shares of Clearwater Analytics stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total value of $197,400.00. Following the transaction, the chief financial officer now owns 148,711 shares in the company, valued at $2,935,555.14. The disclosure for this sale can be found here. Insiders have sold a total of 16,310,000 shares of company stock valued at $275,809,400 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP boosted its stake in Clearwater Analytics by 35.6% in the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after purchasing an additional 4,304,286 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Clearwater Analytics by 36.6% in the fourth quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock worth $258,628,000 after acquiring an additional 3,461,158 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 purchasing an additional 1,335,802 shares in the last quarter. Capital World Investors grew its stake in shares of Clearwater Analytics by 60.5% during the fourth quarter. Capital World Investors now owns 3,051,500 shares of the company’s stock valued at $61,122,000 after purchasing an additional 1,150,538 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in Clearwater Analytics in the 3rd quarter worth approximately $19,506,000. 50.10% of the stock is owned by institutional investors and hedge funds.

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.