Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Down 17.0% in February

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 6,900,000 shares, a drop of 17.0% from the February 13th total of 8,310,000 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average daily volume of 2,550,000 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CWAN. UBS Group increased their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $36.00 in a research report on Thursday, February 20th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Royal Bank of Canada raised their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Oppenheimer raised their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock traded up $0.24 during midday trading on Thursday, hitting $26.72. The company had a trading volume of 889,222 shares, compared to its average volume of 1,899,187. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The business’s 50 day simple moving average is $28.28 and its two-hundred day simple moving average is $27.77. The stock has a market cap of $6.71 billion, a PE ratio of 16.09, a P/E/G ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The business had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. As a group, equities analysts predict that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Insider Activity

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 4,141 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.65, for a total value of $114,498.65. Following the completion of the transaction, the executive now directly owns 7,902 shares in the company, valued at $218,490.30. This trade represents a 34.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Subi Sethi sold 62,482 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the transaction, the insider now owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. The trade was a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 644,510 shares of company stock worth $18,688,862. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently made changes to their positions in CWAN. Wellington Management Group LLP boosted its stake in shares of Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after purchasing an additional 2,950,555 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after purchasing an additional 2,931,445 shares during the period. Vanguard Group Inc. boosted its position in Clearwater Analytics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after acquiring an additional 2,455,844 shares during the last quarter. Norges Bank acquired a new position in Clearwater Analytics during the 4th quarter worth approximately $59,402,000. Finally, Champlain Investment Partners LLC acquired a new position in Clearwater Analytics during the 3rd quarter worth approximately $53,559,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

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.