Clearwater Analytics (NYSE:CWAN – Get Rating) had its price objective cut by DA Davidson to $22.00 in a research report released on Wednesday, Stock Target Advisor reports. They currently have an outperform rating on the stock.
CWAN has been the topic of several other research reports. Oppenheimer cut their target price on Clearwater Analytics from $25.00 to $18.00 and set a buy rating on the stock in a research note on Wednesday, June 22nd. Piper Sandler cut their target price on Clearwater Analytics from $21.00 to $14.00 and set a neutral rating on the stock in a research note on Monday, July 18th. Morgan Stanley cut their target price on Clearwater Analytics from $21.00 to $14.00 and set an equal weight rating on the stock in a research note on Wednesday. The Goldman Sachs Group cut Clearwater Analytics from a neutral rating to a sell rating in a research note on Wednesday, July 13th. Finally, Wells Fargo & Company cut their target price on Clearwater Analytics from $23.00 to $22.00 and set an overweight rating on the stock in a research note on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $22.10.
Clearwater Analytics Price Performance
Shares of CWAN opened at $12.49 on Wednesday. The company has a current ratio of 12.03, a quick ratio of 12.03 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $13.35 and a 200 day simple moving average of $16.72. Clearwater Analytics has a 52-week low of $11.23 and a 52-week high of $27.68.
Insider Activity at Clearwater Analytics
In other Clearwater Analytics news, CEO Sandeep Sahai purchased 2,355 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The shares were acquired at an average price of $11.99 per share, for a total transaction of $28,236.45. Following the purchase, the chief executive officer now owns 33,131 shares in the company, valued at $397,240.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sandeep Sahai acquired 2,355 shares of the firm’s stock in a transaction on Tuesday, May 31st. The shares were purchased at an average cost of $11.99 per share, with a total value of $28,236.45. Following the acquisition, the chief executive officer now directly owns 33,131 shares in the company, valued at approximately $397,240.69. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Durable Capital Partners Lp acquired 487,719 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was purchased at an average cost of $13.46 per share, for a total transaction of $6,564,697.74. Following the completion of the acquisition, the insider now owns 9,433,678 shares in the company, valued at $126,977,305.88. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 547,123 shares of company stock worth $7,373,738. Company insiders own 0.29% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its holdings in Clearwater Analytics by 5,694.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,794 shares of the company’s stock valued at $133,000 after buying an additional 5,694 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of Clearwater Analytics during the 4th quarter worth $179,000. Northern Trust Corp acquired a new stake in shares of Clearwater Analytics during the 4th quarter worth $1,405,000. NewEdge Wealth LLC acquired a new stake in shares of Clearwater Analytics during the 4th quarter worth $580,000. Finally, Dragoneer Investment Group LLC grew its holdings in shares of Clearwater Analytics by 294.3% during the 4th quarter. Dragoneer Investment Group LLC now owns 11,828,717 shares of the company’s stock worth $271,824,000 after purchasing an additional 8,828,717 shares in the last quarter. 21.08% of the stock is owned by institutional investors and hedge funds.
Clearwater Analytics Company Profile
Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities. The company offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions.
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