Clearwater Analytics (NYSE:CWAN) Sees Strong Trading Volume

Clearwater Analytics Holdings, Inc. (NYSE:CWANGet Free Report) shares saw unusually-strong trading volume on Monday . Approximately 792,255 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 1,293,270 shares.The stock last traded at $17.39 and had previously closed at $17.33.

Wall Street Analysts Forecast Growth

CWAN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of Clearwater Analytics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $24.00 to $22.00 in a research report on Thursday, February 29th. DA Davidson reiterated a “buy” rating and set a $24.00 target price on shares of Clearwater Analytics in a research report on Monday, February 5th. Finally, Piper Sandler reissued a “neutral” rating and set a $20.00 price target on shares of Clearwater Analytics in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.77.

Read Our Latest Stock Report on Clearwater Analytics

Clearwater Analytics Price Performance

The business’s fifty day simple moving average is $18.43 and its 200 day simple moving average is $19.23. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.11.

Insider Buying and Selling

In other Clearwater Analytics news, CFO James S. Cox sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $19.95, for a total transaction of $199,500.00. Following the transaction, the chief financial officer now owns 148,711 shares in the company, valued at $2,966,784.45. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $19.95, for a total value of $199,500.00. Following the transaction, the chief financial officer now directly owns 148,711 shares of the company’s stock, valued at approximately $2,966,784.45. The disclosure for this sale can be found here. Insiders sold a total of 16,400,588 shares of company stock valued at $277,607,454 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Clearwater Analytics by 36.6% during the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock worth $258,628,000 after acquiring an additional 3,461,158 shares during the period. Wasatch Advisors LP grew its position in shares of Clearwater Analytics by 17.9% in the fourth quarter. Wasatch Advisors LP now owns 12,087,022 shares of the company’s stock valued at $242,103,000 after purchasing an additional 1,831,571 shares during the last quarter. Durable Capital Partners LP increased its stake in shares of Clearwater Analytics by 11.3% during the first quarter. Durable Capital Partners LP now owns 8,945,959 shares of the company’s stock worth $187,865,000 after purchasing an additional 908,588 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Clearwater Analytics by 0.8% during the fourth quarter. Conestoga Capital Advisors LLC now owns 6,426,367 shares of the company’s stock worth $128,720,000 after buying an additional 49,805 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Clearwater Analytics by 0.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,933,075 shares of the company’s stock worth $114,746,000 after purchasing an additional 30,771 shares in the last quarter. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Clearwater Analytics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearwater Analytics and related companies with MarketBeat.com's FREE daily email newsletter.