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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 6,020,000 shares, an increase of 5.8% from the March 15th total of 5,690,000 shares. Based on an average trading volume of 1,230,000 shares, the short-interest ratio is currently 4.9 days. Currently, 6.2% of the company’s shares are sold short.

Clearwater Analytics Stock Up 0.4 %

Shares of Clearwater Analytics stock traded up $0.07 during midday trading on Tuesday, reaching $16.21. 678,992 shares of the company’s stock traded hands, compared to its average volume of 1,231,929. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.15 and a quick ratio of 5.15. The stock has a 50 day moving average of $17.86 and a 200-day moving average of $18.99. Clearwater Analytics has a 12 month low of $13.02 and a 12 month high of $21.89.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CWAN shares. Piper Sandler reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Clearwater Analytics in a report on Thursday, February 29th. DA Davidson reissued a “buy” rating and set a $24.00 target price on shares of Clearwater Analytics in a report on Monday, February 5th. Finally, JPMorgan Chase & Co. cut shares of Clearwater Analytics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $24.00 to $22.00 in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Insider Transactions at Clearwater Analytics

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

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors have recently added to or reduced their stakes in CWAN. Allspring Global Investments Holdings LLC boosted 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 valued at $67,860,000 after buying an additional 1,335,802 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Clearwater Analytics during the third quarter valued at $2,551,000. Vanguard Group Inc. boosted its position in shares of Clearwater Analytics by 13.8% during the third quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock valued at $182,780,000 after buying an additional 1,148,338 shares during the last quarter. Raymond James & Associates boosted its position in shares of Clearwater Analytics by 42.1% during the fourth quarter. Raymond James & Associates now owns 621,031 shares of the company’s stock valued at $12,439,000 after buying an additional 183,899 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Clearwater Analytics during the third quarter valued at $2,022,000. Institutional investors 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.