Clearwater Analytics (NYSE:CWAN) Upgraded at DA Davidson

DA Davidson upgraded shares of Clearwater Analytics (NYSE:CWAN) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat.com reports. DA Davidson currently has $32.00 price target on the stock, down from their previous price target of $35.00.

A number of other equities research analysts have also recently commented on the stock. Oppenheimer increased their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $23.00 to $33.00 in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Piper Sandler upped their target price on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price target on Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.89.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock opened at $27.08 on Tuesday. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71. The company has a market capitalization of $6.69 billion, a PE ratio of 2,710.61, a P/E/G ratio of 7.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The company has a 50-day simple moving average of $29.20 and a two-hundred day simple moving average of $25.58.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $31.34, for a total transaction of $121,912.60. Following the completion of the sale, the executive now owns 6,373 shares of the company’s stock, valued at $199,729.82. This trade represents a 37.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sandeep Sahai sold 139,172 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.94, for a total value of $4,027,637.68. Following the completion of the transaction, the chief executive officer now directly owns 441,724 shares in the company, valued at approximately $12,783,492.56. This trade represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 234,352 shares of company stock worth $6,678,946. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after purchasing an additional 468 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Clearwater Analytics during the third quarter worth $45,000. Financial Management Professionals Inc. acquired a new stake in shares of Clearwater Analytics in the third quarter valued at $58,000. Advisors Asset Management Inc. raised its holdings in shares of Clearwater Analytics by 38.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock valued at $90,000 after buying an additional 995 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Clearwater Analytics by 124.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after buying an additional 2,425 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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.