Clearwater Analytics (NYSE:CWAN) Shares Gap Down – What’s Next?

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $31.02, but opened at $28.80. Clearwater Analytics shares last traded at $29.39, with a volume of 2,797,017 shares.

Analysts Set New Price Targets

CWAN has been the subject of several analyst reports. Piper Sandler raised their target price on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Citigroup started coverage on Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price target for the company. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Oppenheimer raised their price target on shares of Clearwater Analytics from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Morgan Stanley upped their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.67.

Clearwater Analytics Trading Up 1.6 %

The business has a fifty day moving average of $26.15 and a 200-day moving average of $22.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The company has a market capitalization of $7.45 billion, a P/E ratio of 3,029.03, a PEG ratio of 10.79 and a beta of 0.61.

Insider Buying and Selling at Clearwater Analytics

In other news, insider Subi Sethi sold 21,497 shares of the business’s 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 sale, the insider now directly owns 81,812 shares of the company’s stock, valued at $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 SEC, which is available at this link. In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Subi Sethi sold 21,497 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total transaction of $522,377.10. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,854,883 shares of company stock valued at $44,926,386. Corporate insiders own 3.25% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CWAN. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Clearwater Analytics by 6.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,159 shares of the company’s stock valued at $711,000 after buying an additional 1,704 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of Clearwater Analytics during the third quarter valued at approximately $1,056,000. MetLife Investment Management LLC lifted its holdings in Clearwater Analytics by 144.1% during the third quarter. MetLife Investment Management LLC now owns 86,426 shares of the company’s stock worth $2,182,000 after acquiring an additional 51,022 shares during the period. Glenmede Trust Co. NA lifted its holdings in Clearwater Analytics by 129.1% during the third quarter. Glenmede Trust Co. NA now owns 69,828 shares of the company’s stock worth $1,763,000 after acquiring an additional 39,343 shares during the period. Finally, FMR LLC boosted its position in Clearwater Analytics by 171.4% in the third quarter. FMR LLC now owns 9,169 shares of the company’s stock worth $232,000 after purchasing an additional 5,790 shares during the last quarter. 50.10% of the stock is owned by institutional investors.

Clearwater Analytics Company Profile

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.