Clearwater Analytics (NYSE:CWAN) Shares Gap Up – Time to Buy?

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s share price gapped up before the market opened on Friday . The stock had previously closed at $27.09, but opened at $28.37. Clearwater Analytics shares last traded at $28.05, with a volume of 332,092 shares traded.

Wall Street Analyst Weigh In

CWAN has been the subject of several research reports. JPMorgan Chase & Co. upgraded 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 report on Thursday, November 7th. Wells Fargo & Company boosted their price target on Clearwater Analytics from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group boosted their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Morgan Stanley upgraded Clearwater Analytics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $34.00 in a report on Friday. Finally, DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their price target for the company from $35.00 to $32.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.33.

Clearwater Analytics Price Performance

The company’s 50 day moving average price is $29.20 and its 200-day moving average price is $25.58. The company has a market capitalization of $6.94 billion, a PE ratio of 2,808.21, a PEG ratio of 7.27 and a beta of 0.72. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling

In related news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $30.34, for a total transaction of $567,358.00. Following the completion of the sale, the chief financial officer now directly owns 219,044 shares of the company’s stock, valued at approximately $6,645,794.96. This represents a 7.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $31.34, for a total transaction of $121,912.60. Following the sale, the executive now directly owns 6,373 shares of the company’s stock, valued at approximately $199,729.82. This trade represents a 37.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 234,352 shares of company stock valued at $6,678,946. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC boosted its position in Clearwater Analytics by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock valued at $1,233,000 after buying an additional 395 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after purchasing an additional 468 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Clearwater Analytics by 5.5% in the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock valued at $288,000 after purchasing an additional 598 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Clearwater Analytics by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock valued at $786,000 after purchasing an additional 680 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Clearwater Analytics by 38.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock valued at $90,000 after purchasing an additional 995 shares in the last quarter. 50.10% of the stock is owned by hedge funds and other 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.