Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Up 6.0% in September

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 10,380,000 shares, an increase of 6.0% from the September 15th total of 9,790,000 shares. Approximately 7.5% of the company’s stock are short sold. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is presently 6.7 days.

Clearwater Analytics Price Performance

Clearwater Analytics stock traded up $0.84 during mid-day trading on Thursday, hitting $27.14. 1,114,894 shares of the company traded hands, compared to its average volume of 1,457,396. The stock has a fifty day moving average price of $24.57 and a 200-day moving average price of $20.72. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of -339.38, a price-to-earnings-growth ratio of 9.16 and a beta of 0.62. Clearwater Analytics has a one year low of $15.62 and a one year high of $27.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company had revenue of $106.79 million during the quarter, compared to analyst estimates of $105.51 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities analysts predict that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

CWAN has been the subject of a number of research reports. Oppenheimer increased their target price on shares of Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Wells Fargo & Company boosted their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Piper Sandler reiterated a “neutral” rating and issued a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Morgan Stanley increased their price objective on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Citigroup assumed coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.67.

Insider Buying and Selling

In other news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the transaction, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at $5,860,991.04. This represents 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 hyperlink. In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the transaction, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 14,850 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.02, for a total transaction of $326,997.00. Following the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at approximately $5,119,716.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,879,543 shares of company stock worth $247,145,339. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several institutional investors have recently modified their holdings of CWAN. Blair William & Co. IL raised its position in Clearwater Analytics by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock worth $786,000 after purchasing an additional 680 shares during the period. Arizona State Retirement System boosted its holdings in Clearwater Analytics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock valued at $757,000 after acquiring an additional 828 shares during the period. Advisors Asset Management Inc. boosted its holdings in Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after acquiring an additional 1,234 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Clearwater Analytics by 389.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after acquiring an additional 1,549 shares during the last quarter. Finally, RiverPark Advisors LLC increased its stake in Clearwater Analytics by 33.1% in the 2nd quarter. RiverPark Advisors LLC now owns 7,140 shares of the company’s stock worth $132,000 after purchasing an additional 1,774 shares during the period. 50.10% of the stock is currently owned by institutional investors.

About Clearwater Analytics

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.