Clearwater Analytics (NYSE:CWAN) Price Target Raised to $28.00

Clearwater Analytics (NYSE:CWAN) had its price target raised by Piper Sandler from $23.00 to $28.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

CWAN has been the topic of a number of other research reports. Royal Bank of Canada raised their price target on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Citigroup initiated coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley raised their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Oppenheimer upped their target price on shares of Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock opened at $31.90 on Thursday. The stock’s fifty day simple moving average is $25.79 and its 200 day simple moving average is $22.00. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $7.86 billion, a PE ratio of 3,193.19, a PEG ratio of 10.36 and a beta of 0.61. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71.

Insider Transactions at Clearwater Analytics

In related news, insider Subi Sethi sold 21,497 shares of Clearwater Analytics stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the sale, the insider now owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the sale, the chief financial officer now owns 224,044 shares in the company, valued at $5,860,991.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Subi Sethi sold 21,497 shares of Clearwater Analytics stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total transaction of $522,377.10. Following the completion of the transaction, the insider now directly owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,864,693 shares of company stock worth $45,128,342 in the last three months. Insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds have recently bought and sold shares of CWAN. Thornburg Investment Management Inc. raised its stake in Clearwater Analytics by 31.7% in the first quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock valued at $5,860,000 after buying an additional 79,707 shares during the period. California State Teachers Retirement System raised its stake in Clearwater Analytics by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after acquiring an additional 23,971 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Clearwater Analytics during the 1st quarter valued at $825,000. Jane Street Group LLC boosted its position in Clearwater Analytics by 234.2% during the first quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after purchasing an additional 186,273 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of Clearwater Analytics in the second quarter valued at $1,797,000. 50.10% of the stock is currently 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.