Brokerages Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) PT at $31.89

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has received an average recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $31.89.

A number of research firms have recently weighed in on CWAN. The Goldman Sachs Group lifted their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Citigroup initiated coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Royal Bank of Canada raised their price target on Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Wells Fargo & Company increased their price objective on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Oppenheimer raised their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd.

Insider Buying and Selling

In other news, CEO Sandeep Sahai sold 139,172 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the sale, the chief executive officer now directly owns 441,724 shares in the company, valued at approximately $12,783,492.56. The trade was a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $25.38, for a total value of $98,728.20. Following the completion of the transaction, the executive now directly owns 6,373 shares of the company’s stock, valued at $161,746.74. This represents a 37.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,942 shares of company stock worth $5,874,939 in the last three months. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC bought a new stake in shares of Clearwater Analytics in the 2nd quarter valued at about $43,280,000. Champlain Investment Partners LLC acquired a new position in shares of Clearwater Analytics in the third quarter worth approximately $53,559,000. State Street Corp boosted its holdings in Clearwater Analytics by 38.7% in the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after acquiring an additional 1,009,548 shares during the last quarter. Wasatch Advisors LP increased its position in Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after purchasing an additional 559,564 shares during the period. Finally, Stephens Investment Management Group LLC bought a new position in Clearwater Analytics during the 3rd quarter worth approximately $11,071,000. 50.10% of the stock is owned by institutional investors.

Clearwater Analytics Trading Down 1.8 %

Shares of Clearwater Analytics stock opened at $29.56 on Thursday. 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 firm has a 50-day moving average of $28.69 and a 200-day moving average of $24.18. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The stock has a market cap of $7.30 billion, a PE ratio of 2,956.00, a PEG ratio of 10.57 and a beta of 0.69.

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.