Clearwater Analytics (NYSE:CWAN) Shares Up 9%

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) shares traded up 9% during mid-day trading on Thursday . The stock traded as high as $17.28 and last traded at $17.25. 903,573 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 1,208,555 shares. The stock had previously closed at $15.82.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 price objective on shares of Clearwater Analytics in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday. DA Davidson restated a “buy” rating and set a $24.00 target price on shares of Clearwater Analytics in a research note on Monday, February 5th. Finally, Piper Sandler restated a “neutral” rating and set a $20.00 target price on shares of Clearwater Analytics in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.70.

Clearwater Analytics Stock Performance

The company has a market cap of $4.20 billion, a price-to-earnings ratio of -156.36, a price-to-earnings-growth ratio of 6.26 and a beta of 0.50. The firm has a 50-day simple moving average of $17.11 and a 200 day simple moving average of $18.70. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.11.

Insiders Place Their Bets

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.90, for a total transaction of $274,625,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the business’s stock in a transaction that occurred on 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 SEC, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total value of $987,000.00. Following the completion of the sale, the chief executive officer now owns 270,838 shares in the company, valued at $5,346,342.12. The disclosure for this sale can be found here. Insiders have sold a total of 16,310,000 shares of company stock valued at $275,809,400 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Clearwater Analytics

A number of institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in Clearwater Analytics by 33.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock worth $49,000 after purchasing an additional 616 shares in the last quarter. Natixis Advisors L.P. boosted its position in Clearwater Analytics by 1.4% during the fourth quarter. Natixis Advisors L.P. now owns 44,198 shares of the company’s stock worth $885,000 after purchasing an additional 616 shares in the last quarter. KLR Investment Advisors LLC boosted its position in Clearwater Analytics by 5.0% during the fourth quarter. KLR Investment Advisors LLC now owns 16,939 shares of the company’s stock worth $339,000 after purchasing an additional 801 shares in the last quarter. Eagle Bay Advisors LLC boosted its position in Clearwater Analytics by 213.3% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock worth $36,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after purchasing an additional 1,549 shares in the last quarter. 50.10% of the stock is currently 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.