Clearwater Analytics (NYSE:CWAN) Downgraded by DA Davidson to Neutral

DA Davidson cut shares of Clearwater Analytics (NYSE:CWAN) from a buy rating to a neutral rating in a report released on Friday morning, Marketbeat reports. The brokerage currently has $35.00 target price on the stock, up from their previous target price of $31.00.

A number of other brokerages have also commented on CWAN. Citigroup initiated coverage on Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price target for the company. The Goldman Sachs Group raised their price target on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their price target on Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler raised their price objective 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 raised their price target on Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.67.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $31.02 on Friday. The firm has a market cap of $7.64 billion, a PE ratio of 3,105.11, a price-to-earnings-growth ratio of 11.56 and a beta of 0.61. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.78 and a current ratio of 4.66. The business has a 50 day moving average price of $25.91 and a 200-day moving average price of $22.14.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 13,700 shares of Clearwater Analytics stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction of $323,868.00. Following the transaction, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at $5,496,370.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Subi Sethi sold 21,497 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the transaction, the insider now directly owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James S. Cox sold 13,700 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the completion of the transaction, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $5,496,370.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,864,693 shares of company stock valued at $45,128,342. Insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its position in shares of 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 purchasing an additional 1,234 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Clearwater Analytics in the 3rd quarter valued at $45,000. Financial Management Professionals Inc. bought a new position in Clearwater Analytics in the 3rd quarter valued at $58,000. Benjamin F. Edwards & Company Inc. grew its position in 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 acquiring an additional 2,425 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Clearwater Analytics in the 3rd quarter valued at $117,000. 50.10% of the stock is owned by hedge funds and other 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.