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

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.